Evercore ISI Trims Exact Sciences (NASDAQ:EXAS) Target Price to $72.00

Exact Sciences (NASDAQ:EXAS) had its price target trimmed by Evercore ISI from $80.00 to $72.00 in a report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the medical research company’s stock.

A number of other equities research analysts have also recently issued reports on EXAS. Citigroup dropped their price objective on Exact Sciences from $100.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group decreased their target price on Exact Sciences from $90.00 to $85.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Jefferies Financial Group initiated coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a buy rating and a $75.00 target price on the stock. BTIG Research cut their price target on shares of Exact Sciences from $80.00 to $70.00 and set a buy rating on the stock in a research report on Wednesday, June 26th. Finally, Scotiabank initiated coverage on Exact Sciences in a report on Thursday, June 27th. They issued a sector outperform rating and a $70.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $86.80.

Exact Sciences Trading Up 3.2 %

EXAS opened at $44.57 on Tuesday. The firm has a 50-day moving average price of $48.60 and a two-hundred day moving average price of $59.45. The stock has a market capitalization of $8.22 billion, a PE ratio of -33.77 and a beta of 1.22. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $100.77. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. The firm had revenue of $637.52 million during the quarter, compared to analysts’ expectations of $624.95 million. As a group, equities analysts anticipate that Exact Sciences will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now directly owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 1,498 shares of company stock worth $90,105. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of EXAS. LPL Financial LLC boosted its position in shares of Exact Sciences by 3.9% in the 3rd quarter. LPL Financial LLC now owns 80,176 shares of the medical research company’s stock worth $5,470,000 after purchasing an additional 3,040 shares in the last quarter. Stifel Financial Corp lifted its position in Exact Sciences by 8.2% during the third quarter. Stifel Financial Corp now owns 59,894 shares of the medical research company’s stock valued at $4,086,000 after purchasing an additional 4,562 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Exact Sciences by 5.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 5,992 shares of the medical research company’s stock valued at $409,000 after purchasing an additional 331 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Exact Sciences by 172.0% in the third quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock valued at $22,398,000 after acquiring an additional 207,623 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Exact Sciences by 13.1% during the third quarter. Advisors Asset Management Inc. now owns 21,503 shares of the medical research company’s stock valued at $1,467,000 after buying an additional 2,488 shares during the last quarter. 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.