Exact Sciences (NASDAQ:EXAS) Price Target Cut to $65.00 by Analysts at BTIG Research

Exact Sciences (NASDAQ:EXAS) had its target price trimmed by BTIG Research from $82.00 to $65.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

EXAS has been the subject of a number of other reports. Stifel Nicolaus reduced their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Canaccord Genuity Group raised their target price on shares of Exact Sciences from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Piper Sandler upped their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Benchmark reduced their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $54.72 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a market cap of $10.11 billion, a PE ratio of -57.00 and a beta of 1.27. The company’s 50 day moving average is $67.14 and its two-hundred day moving average is $56.65.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. Exact Sciences’s revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Exact Sciences will post -0.87 EPS for the current year.

Insider Buying and Selling

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simplify Asset Management Inc. lifted its stake in shares of Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after buying an additional 11,800 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Exact Sciences during the 3rd quarter worth approximately $225,000. CIBC Asset Management Inc grew its position in shares of Exact Sciences by 6.1% in the third quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock valued at $442,000 after purchasing an additional 371 shares in the last quarter. Black Swift Group LLC purchased a new stake in shares of Exact Sciences in the third quarter valued at approximately $204,000. Finally, Metis Global Partners LLC acquired a new stake in shares of Exact Sciences in the third quarter valued at approximately $241,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

About Exact Sciences

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.