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

Exact Sciences (NASDAQ:EXAS) had its target price dropped by Evercore ISI from $80.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target indicates a potential upside of 12.72% from the company’s current price.

Several other equities research analysts also recently issued reports on EXAS. Piper Sandler raised their price target on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Sanford C. Bernstein lifted their price target on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Finally, Craig Hallum reduced their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Stock Down 2.7 %

Shares of EXAS stock opened at $53.23 on Wednesday. The stock’s 50 day simple moving average is $66.96 and its 200 day simple moving average is $56.63. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of -55.45 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts predict that Exact Sciences will post -0.87 EPS for the current year.

Insider Transactions at Exact Sciences

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

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Exact Sciences by 1.0% in 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 acquiring an additional 180,341 shares during the last quarter. Capital World Investors increased its holdings in Exact Sciences by 74.4% during the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC bought a new position in Exact Sciences in the 2nd quarter valued at $163,896,000. Champlain Investment Partners LLC boosted its stake in 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 purchasing an additional 1,438,010 shares in the last quarter. Finally, Armistice Capital LLC boosted its stake in 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 purchasing an additional 669,438 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.