Exact Sciences (NASDAQ:EXAS) Given New $65.00 Price Target at Benchmark

Exact Sciences (NASDAQ:EXAS) had its price target cut by stock analysts at Benchmark from $67.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Benchmark’s target price suggests a potential downside of 9.10% from the stock’s previous close.

Several other equities research analysts also recently issued reports on EXAS. Craig Hallum lowered 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. Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. Robert W. Baird decreased their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Finally, The Goldman Sachs Group decreased their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.69.

Exact Sciences Trading Up 0.5 %

NASDAQ EXAS opened at $71.51 on Wednesday. The stock has a 50-day simple moving average of $67.27 and a 200 day simple moving average of $56.67. The company has a market capitalization of $13.21 billion, a PE ratio of -74.49 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly 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). Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Research analysts forecast that Exact Sciences will post -0.87 EPS for the current year.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the firm’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 directly owns 12,758 shares of the company’s stock, valued at $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Several hedge funds have recently added to or reduced their stakes in EXAS. Private Advisor Group LLC lifted its holdings in Exact Sciences by 12.5% during the 1st 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 last quarter. Daiwa Securities Group Inc. lifted its holdings in Exact Sciences by 1.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after purchasing an additional 200 shares during the last quarter. Motive Wealth Advisors acquired a new stake in Exact Sciences during the 1st quarter worth approximately $201,000. Oppenheimer & Co. Inc. lifted its holdings in Exact Sciences by 1.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company’s stock worth $1,594,000 after purchasing an additional 401 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in Exact Sciences by 32.4% during the 1st 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 during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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.