Citigroup Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its target price decreased by Citigroup from $80.00 to $75.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Citigroup’s target price indicates a potential upside of 37.77% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Benchmark reduced their target price on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen reduced their target price on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company started coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price on the stock. Sanford C. Bernstein boosted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Stock Performance

EXAS stock traded down $17.07 on Wednesday, reaching $54.44. 11,164,710 shares of the company were exchanged, compared to its average volume of 2,568,616. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The stock’s fifty day moving average price is $67.27 and its 200 day moving average price is $56.67. The firm has a market capitalization of $10.06 billion, a PE ratio of -56.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

Exact Sciences (NASDAQ:EXAS) last announced 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 for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, 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 Exact Sciences news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Exact Sciences by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after acquiring an additional 12,349 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Exact Sciences by 5.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after acquiring an additional 10,356 shares during the last quarter. Profund Advisors LLC boosted its stake in Exact Sciences by 239.8% during the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after acquiring an additional 55,459 shares during the last quarter. William Blair Investment Management LLC bought a new position in Exact Sciences during the 2nd quarter worth approximately $163,896,000. Finally, Swedbank AB bought a new position in Exact Sciences during the 1st quarter worth approximately $2,719,000. 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.