Exact Sciences (NASDAQ:EXAS) Given New $67.00 Price Target at Robert W. Baird

by · The Markets Daily

Exact Sciences (NASDAQ:EXAS – Free Report) had its price target cut by Robert W. Baird from $70.00 to $67.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other analysts have also weighed in on the company. Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Benchmark lowered their price target on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI lifted their price objective on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.06.

Get Our Latest Research Report on Exact Sciences

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $54.72 on Wednesday. The stock has a market capitalization of $10.11 billion, a price-to-earnings 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. The firm has a 50-day moving average price of $67.14 and a 200 day moving average price of $56.65. 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 (NASDAQ:EXAS – Get Free Report) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million during 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 was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

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

Institutional Investors Weigh In On Exact Sciences

Several institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Exact Sciences by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after purchasing an additional 12,349 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Exact Sciences by 5.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after acquiring an additional 10,356 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Exact Sciences by 239.8% during the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after purchasing an additional 55,459 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Exact Sciences during the second quarter worth $163,896,000. Finally, Swedbank AB purchased a new position in shares of Exact Sciences in the first quarter valued at $2,719,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

About Exact Sciences

(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