Exact Sciences (NASDAQ:EXAS) Price Target Cut to $82.00 by Analysts at TD Cowen

Exact Sciences (NASDAQ:EXAS) had its price objective trimmed by TD Cowen from $90.00 to $82.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other research firms have also weighed in on EXAS. Robert W. Baird lowered their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus dropped their target price on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. 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. Canaccord Genuity Group increased their price target on Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $54.72 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The business has a 50 day moving average price of $67.14 and a 200-day moving average price of $56.65. The company has a market cap of $10.11 billion, a price-to-earnings ratio of -57.00 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The business’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts expect that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Wednesday, September 18th. 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 13,687 shares of the company’s stock, valued at approximately $958,090. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Large investors have recently modified their holdings of the business. Simplify Asset Management Inc. lifted its stake in shares of Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after buying an additional 11,800 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in Exact Sciences during the 3rd quarter valued at $225,000. CIBC Asset Management Inc lifted its position in shares of Exact Sciences by 6.1% during the third quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock worth $442,000 after acquiring an additional 371 shares in the last quarter. Black Swift Group LLC purchased a new position in shares of Exact Sciences in the third quarter valued at $204,000. Finally, Metis Global Partners LLC bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $241,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.