Exact Sciences (NASDAQ:EXAS) Price Target Cut to $70.00 by Analysts at Piper Sandler

Exact Sciences (NASDAQ:EXAS) had its target price reduced by Piper Sandler from $75.00 to $70.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

EXAS has been the topic of a number of other research reports. TD Cowen upped their target price on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum decreased their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Scotiabank lifted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday. Finally, Jefferies Financial Group increased their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.94.

Exact Sciences Stock Performance

EXAS opened at $48.50 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The firm has a 50 day moving average of $54.34 and a two-hundred day moving average of $59.87. The firm has a market capitalization of $9.01 billion, a PE ratio of -8.71 and a beta of 1.24.

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, topping the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. On average, analysts anticipate that Exact Sciences will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors raised its stake in Exact Sciences by 10.7% in the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock valued at $985,439,000 after purchasing an additional 1,696,321 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Exact Sciences by 74.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock valued at $323,669,000 after buying an additional 2,462,165 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Exact Sciences by 25.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock worth $239,922,000 after buying an additional 876,985 shares in the last quarter. Geode Capital Management LLC boosted its position in Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock worth $175,165,000 after acquiring an additional 16,828 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in 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 valued at $164,037,000 after acquiring an additional 1,513,873 shares in the last quarter. 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.