Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $75.00 at Citigroup

Exact Sciences (NASDAQ:EXAS) had its price target cut by Citigroup from $80.00 to $75.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

EXAS has been the topic of a number of other reports. Craig Hallum dropped their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. BTIG Research cut their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen decreased their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler boosted their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Finally, Benchmark decreased their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to 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

EXAS stock opened at $54.72 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The business has a 50-day simple moving average of $67.14 and a two-hundred day simple moving average of $56.65. The company has a market capitalization of $10.11 billion, a P/E ratio of -57.00 and a beta of 1.27. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts expect that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Exact Sciences by 12.5% in the first quarter. Private Advisor Group LLC now owns 26,974 shares of the medical research company’s stock worth $1,863,000 after purchasing an additional 2,999 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Exact Sciences by 1.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after acquiring an additional 200 shares in the last quarter. Motive Wealth Advisors bought a new stake in shares of Exact Sciences during the 1st quarter valued at about $201,000. Oppenheimer & Co. Inc. boosted its position in shares of Exact Sciences by 1.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company’s stock valued at $1,594,000 after acquiring an additional 401 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its holdings in shares of Exact Sciences by 32.4% during the first quarter. ClariVest Asset Management LLC now owns 25,313 shares of the medical research company’s stock worth $1,748,000 after purchasing an additional 6,192 shares in the last quarter. 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.