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

by · The Cerbat Gem

Exact Sciences (NASDAQ:EXAS – Free Report) had its price target cut by Piper Sandler from $85.00 to $75.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Several other brokerages have also recently issued reports on EXAS. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Citigroup lowered their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen lowered their target price on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Robert W. Baird lowered their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company assumed coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.47.

Check Out Our Latest Analysis on EXAS

Exact Sciences Trading Down 0.3 %

NASDAQ EXAS opened at $51.33 on Monday. 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 has a 52 week low of $40.62 and a 52 week high of $79.62. The stock has a market capitalization of $9.50 billion, a PE ratio of -43.87 and a beta of 1.27. The firm has a 50 day moving average of $66.55 and a two-hundred day moving average of $56.41.

Exact Sciences (NASDAQ:EXAS – Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Exact Sciences will post -1.02 EPS for the current fiscal year.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now owns 13,687 shares in the company, valued at $958,090. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of large investors have recently added to or reduced their stakes in EXAS. Vanguard Group Inc. boosted its stake in shares of Exact Sciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after purchasing an additional 180,341 shares during the last quarter. Capital World Investors boosted its position in shares of 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 worth $899,528,000 after acquiring an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences in the second quarter worth approximately $163,896,000. Champlain Investment Partners LLC boosted its position in shares of Exact Sciences by 175.3% in 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 acquiring an additional 1,438,010 shares during the last quarter. Finally, Armistice Capital LLC boosted its position in shares of Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after acquiring an additional 669,438 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Company Profile

(Get Free Report)

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.

Featured Articles