Exact Sciences (NASDAQ:EXAS) Price Target Cut to $82.00 by Analysts at Stifel Nicolaus

Exact Sciences (NASDAQ:EXAS) had its target price reduced by research analysts at Stifel Nicolaus from $100.00 to $82.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 45.39% from the company’s previous close.

A number of other brokerages also recently weighed in on EXAS. The Goldman Sachs Group cut their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Scotiabank began coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price target on the stock. Jefferies Financial Group began coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective for the company. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Evercore ISI dropped their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $85.56.

Exact Sciences Stock Up 23.5 %

EXAS traded up $10.72 during midday trading on Thursday, hitting $56.40. 3,997,285 shares of the company’s stock traded hands, compared to its average volume of 2,664,726. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.64 and a quick ratio of 1.45. The company has a market cap of $10.41 billion, a PE ratio of -42.73 and a beta of 1.22. The stock’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $56.22. Exact Sciences has a one year low of $40.62 and a one year high of $93.00.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. The business had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. During the same quarter last year, the firm earned ($0.45) EPS. Exact Sciences’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Exact Sciences will post -1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently made changes to their positions in EXAS. Raymond James & Associates increased its holdings in Exact Sciences by 5.8% during the 4th quarter. Raymond James & Associates now owns 62,925 shares of the medical research company’s stock worth $4,655,000 after purchasing an additional 3,430 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Exact Sciences by 36.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,778 shares of the medical research company’s stock valued at $649,000 after buying an additional 2,358 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Exact Sciences in the fourth quarter worth $88,000. Arizona State Retirement System grew its holdings in Exact Sciences by 0.9% during the 4th quarter. Arizona State Retirement System now owns 49,655 shares of the medical research company’s stock valued at $3,673,000 after buying an additional 442 shares in the last quarter. Finally, KRS Capital Management LLC purchased a new position in shares of Exact Sciences during the 4th quarter valued at $277,000. 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.