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

Exact Sciences (NASDAQ:EXAS) had its price objective cut by Craig Hallum from $82.00 to $65.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other analysts have also recently issued reports on EXAS. Sanford C. Bernstein raised their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company started coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. Piper Sandler raised their price target on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Finally, Stifel Nicolaus cut their target price on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Stock Performance

Exact Sciences stock opened at $54.72 on Wednesday. The stock has a market cap of $10.11 billion, a P/E ratio of -57.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm’s fifty day moving average price is $67.14 and its 200-day moving average price 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during 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%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the business’s 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 completion of the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors have recently made changes to their positions in the company. Huntington National Bank lifted its stake in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter worth $46,000. V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter worth $47,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Exact Sciences during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors 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.