BTIG Research Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $70.00

Exact Sciences (NASDAQ:EXAS) had its target price cut by analysts at BTIG Research from $80.00 to $70.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. BTIG Research’s target price suggests a potential upside of 57.34% from the stock’s current price.

A number of other equities analysts also recently issued reports on EXAS. Canaccord Genuity Group cut their price objective on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Jefferies Financial Group began coverage on Exact Sciences in a research report on Monday, June 3rd. They set a “buy” rating and a $75.00 price target for the company. Finally, Citigroup cut their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and an average target price of $87.86.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $44.49 on Wednesday. The stock’s 50 day moving average is $50.78 and its 200-day moving average is $60.41. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $100.77. The company has a quick ratio of 1.45, a current ratio of 1.64 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of -33.70 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. The firm had revenue of $637.52 million during the quarter, compared to analyst estimates of $624.95 million. Sell-side analysts forecast that Exact Sciences will post -1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the transaction, the chief executive officer now directly owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the executive vice president now directly owns 71,787 shares in the company, valued at $5,025,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now directly owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The disclosure for this sale can be found here. Insiders have sold a total of 3,498 shares of company stock worth $230,105 over the last 90 days. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Exact Sciences by 172.0% during the third quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock valued at $22,398,000 after acquiring an additional 207,623 shares during the last quarter. Thompson Investment Management Inc. raised its position in Exact Sciences by 13.1% during the 1st quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after purchasing an additional 18,595 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after buying an additional 115,058 shares during the period. New York Life Investment Management LLC grew its position in shares of Exact Sciences by 5.0% in the 4th quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock worth $1,561,000 after buying an additional 1,014 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Exact Sciences by 4.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 1,020 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.