Barclays Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its target price lowered by Barclays from $70.00 to $65.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

Several other research analysts have also issued reports on EXAS. BTIG Research raised their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum reduced their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group cut their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group increased their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein increased their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

Exact Sciences Stock Down 1.9 %

Shares of NASDAQ EXAS opened at $49.51 on Thursday. The firm has a market capitalization of $9.16 billion, a PE ratio of -42.32 and a beta of 1.24. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The firm’s 50-day moving average is $55.15 and its 200-day moving average is $60.03.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Equities analysts expect that Exact Sciences will post -1.1 EPS for the current year.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp grew its stake in shares of Exact Sciences by 107.7% during the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock worth $164,037,000 after acquiring an additional 1,513,873 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Exact Sciences by 115.5% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 236,617 shares of the medical research company’s stock valued at $13,296,000 after buying an additional 126,802 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Exact Sciences by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,421,671 shares of the medical research company’s stock valued at $79,884,000 after buying an additional 81,774 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Exact Sciences by 22.4% in the fourth quarter. Vident Advisory LLC now owns 22,447 shares of the medical research company’s stock valued at $1,261,000 after buying an additional 4,110 shares in the last quarter. Finally, Spyglass Capital Management LLC grew its stake in shares of Exact Sciences by 10.2% in the fourth quarter. Spyglass Capital Management LLC now owns 1,539,436 shares of the medical research company’s stock valued at $86,501,000 after buying an additional 142,343 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.