Exact Sciences (NASDAQ:EXAS) Cut to Sell at StockNews.com

Exact Sciences (NASDAQ:EXASGet Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other research analysts also recently commented on the stock. Piper Sandler began coverage on shares of Exact Sciences in a research report on Thursday, June 2nd. They issued a “neutral” rating and a $50.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Exact Sciences from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 23rd. Citigroup dropped their price target on Exact Sciences from $80.00 to $65.00 in a research report on Wednesday, April 27th. Raymond James lowered their target price on shares of Exact Sciences from $90.00 to $80.00 in a report on Wednesday, April 27th. Finally, Robert W. Baird decreased their target price on shares of Exact Sciences from $100.00 to $90.00 in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.85.

Shares of Exact Sciences stock traded up $2.75 during trading hours on Thursday, hitting $42.24. The company’s stock had a trading volume of 1,888,272 shares, compared to its average volume of 2,154,672. The firm has a fifty day moving average of $51.28 and a 200-day moving average of $66.06. Exact Sciences has a twelve month low of $35.34 and a twelve month high of $133.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.29 and a current ratio of 2.53. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of -9.78 and a beta of 1.24.

Exact Sciences (NASDAQ:EXASGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The medical research company reported ($1.04) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.08. Exact Sciences had a negative net margin of 40.26% and a negative return on equity of 21.82%. The company had revenue of $486.57 million during the quarter, compared to analysts’ expectations of $461.86 million. During the same quarter last year, the company posted ($0.18) EPS. On average, sell-side analysts expect that Exact Sciences will post -4.25 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Exact Sciences by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 369,128 shares of the medical research company’s stock worth $35,223,000 after purchasing an additional 16,908 shares in the last quarter. Tudor Investment Corp Et Al purchased a new position in Exact Sciences during the third quarter valued at approximately $2,572,000. Cubist Systematic Strategies LLC increased its stake in Exact Sciences by 22.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 12,804 shares of the medical research company’s stock valued at $1,222,000 after buying an additional 2,349 shares during the period. Corient Capital Partners LLC raised its holdings in shares of Exact Sciences by 24.5% during the third quarter. Corient Capital Partners LLC now owns 2,509 shares of the medical research company’s stock worth $239,000 after acquiring an additional 493 shares in the last quarter. Finally, Atria Investments LLC raised its stake in shares of Exact Sciences by 35.3% during the 3rd quarter. Atria Investments LLC now owns 11,449 shares of the medical research company’s stock worth $1,093,000 after purchasing an additional 2,990 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

About Exact Sciences (Get Rating)

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, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

Further Reading

Analyst Recommendations for Exact Sciences (NASDAQ:EXAS)

Receive News & Ratings for Exact Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exact Sciences and related companies with MarketBeat.com's FREE daily email newsletter.