Exact Sciences (NASDAQ:EXAS) Given New $65.00 Price Target at Bank of America

Exact Sciences (NASDAQ:EXAS) had its price target lowered by investment analysts at Bank of America from $72.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Bank of America‘s price target suggests a potential upside of 28.76% from the company’s previous close.

Several other analysts have also issued reports on EXAS. Benchmark reiterated a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Citigroup reduced their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Monday, January 13th. Robert W. Baird lowered their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Evercore ISI decreased their price target on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.06.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $50.48 on Thursday. 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 business’s 50 day moving average is $55.41 and its 200-day moving average is $60.10. The firm has a market cap of $9.34 billion, a P/E ratio of -43.14 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Equities research analysts predict that Exact Sciences will post -1.1 earnings per share for the current year.

Institutional Trading of Exact Sciences

Hedge funds have recently bought and sold shares of the company. Huntington National Bank boosted its position in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Exact Sciences during the 3rd quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences in the 3rd quarter valued at $35,000. Vestor Capital LLC acquired a new position in Exact Sciences during the third quarter worth $46,000. Finally, Asset Planning Inc bought a new position in Exact Sciences in the 4th quarter valued at $40,000. 88.82% of the stock is currently 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.