Stifel Nicolaus Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $67.00

Exact Sciences (NASDAQ:EXAS) had its price objective reduced by Stifel Nicolaus from $82.00 to $67.00 in a research note issued to investors on Wednesday morning,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 research reports. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Wells Fargo & Company began coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. BTIG Research dropped their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Craig Hallum lowered their price objective 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. Finally, Sanford C. Bernstein lifted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Trading Down 3.3 %

NASDAQ:EXAS traded down $1.75 during mid-day trading on Wednesday, reaching $51.48. The stock had a trading volume of 4,689,229 shares, compared to its average volume of 2,310,664. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The stock’s 50 day simple moving average is $66.76 and its two-hundred day simple moving average is $56.55. The company has a quick ratio of 1.98, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last issued its 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 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Research analysts anticipate that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Exact Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after buying an additional 180,341 shares during the last quarter. Capital World Investors increased its stake in Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after acquiring an additional 5,557,168 shares during the period. William Blair Investment Management LLC bought a new stake in Exact Sciences during the second quarter worth about $163,896,000. Champlain Investment Partners LLC grew its stake in Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after buying an additional 1,438,010 shares during the last quarter. Finally, Armistice Capital LLC grew its stake in Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after buying an additional 669,438 shares during the last quarter. Institutional investors and hedge funds 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.