Exact Sciences (NASDAQ:EXAS) Given New $85.00 Price Target at Canaccord Genuity Group

Exact Sciences (NASDAQ:EXAS) had its price target reduced by stock analysts at Canaccord Genuity Group from $90.00 to $85.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 56.97% from the stock’s previous close.

A number of other analysts also recently weighed in on EXAS. BTIG Research decreased their price target on Exact Sciences from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Finally, Citigroup decreased their price target on Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $95.40.

Exact Sciences Trading Down 9.0 %

NASDAQ EXAS traded down $5.33 on Thursday, reaching $54.15. The company had a trading volume of 10,687,198 shares, compared to its average volume of 2,383,032. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of -48.03 and a beta of 1.26. Exact Sciences has a fifty-two week low of $52.25 and a fifty-two week high of $100.77. The business has a 50 day moving average of $63.64 and a two-hundred day moving average of $64.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The firm had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. During the same period last year, the business posted ($0.72) EPS. The business’s revenue was up 17.0% compared to the same quarter last year. Analysts forecast that Exact Sciences will post -0.86 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Sarah Condella sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the executive vice president now owns 73,787 shares in the company, valued at approximately $5,165,090. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jacob A. Orville sold 966 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,341.38. Following the completion of the transaction, the insider now directly owns 7,488 shares in the company, valued at approximately $459,987.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the executive vice president now owns 73,787 shares of the company’s stock, valued at $5,165,090. The disclosure for this sale can be found here. Insiders have sold a total of 70,611 shares of company stock valued at $4,255,377 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Exact Sciences

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Exact Sciences by 172.0% during the 3rd quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock worth $22,398,000 after acquiring an additional 207,623 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Exact Sciences by 1.6% during the 3rd quarter. Nordea Investment Management AB now owns 18,858 shares of the medical research company’s stock worth $1,310,000 after acquiring an additional 293 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Exact Sciences by 11.8% in the third quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock worth $270,254,000 after purchasing an additional 418,770 shares during the last quarter. New York Life Investment Management LLC lifted its stake in Exact Sciences by 5.0% in the fourth quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock worth $1,561,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Aviva PLC lifted its stake in Exact Sciences by 383.0% in the third quarter. Aviva PLC now owns 107,054 shares of the medical research company’s stock worth $7,303,000 after purchasing an additional 84,888 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

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.