Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $75.00 at Canaccord Genuity Group

Exact Sciences (NASDAQ:EXAS) had its price target reduced by Canaccord Genuity Group from $95.00 to $75.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other brokerages have also recently weighed in on EXAS. Benchmark decreased their price objective 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. BTIG Research dropped 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. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective on the stock. The Goldman Sachs Group lowered their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Craig Hallum lowered their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Price Performance

Exact Sciences stock opened at $54.72 on Wednesday. The business has a 50 day simple moving average of $67.14 and a 200 day simple moving average of $56.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The company has a market capitalization of $10.11 billion, a PE ratio of -57.00 and a beta of 1.27. Exact Sciences has a one year low of $40.62 and a one year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data 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). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts forecast that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of the business’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 $893,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank boosted its stake in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new position in Exact Sciences during the second quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences in the third quarter valued at $35,000. Vestor Capital LLC bought a new position in shares of Exact Sciences in the third quarter valued at about $46,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Exact Sciences in the third quarter valued at about $47,000. Institutional investors 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.