BTIG Research Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $65.00

Exact Sciences (NASDAQ:EXAS) had its target price decreased by BTIG Research from $82.00 to $65.00 in a report released on Wednesday morning,Benzinga reports. BTIG Research currently has a buy rating on the medical research company’s stock.

Several other analysts have also recently issued reports on EXAS. Piper Sandler increased their target price on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Robert W. Baird cut their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday. Sanford C. Bernstein raised their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. TD Cowen cut their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Stock Down 3.3 %

Shares of NASDAQ:EXAS traded down $1.75 during trading on Wednesday, hitting $51.48. 4,689,229 shares of the company’s stock were exchanged, compared to its average volume of 2,310,664. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.98 and a current ratio of 2.12. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The business’s 50-day simple moving average is $66.76 and its 200 day simple moving average is $56.55.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Exact Sciences will post -0.87 EPS for the current year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Landscape Capital Management L.L.C. raised its position in Exact Sciences by 9.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 26,491 shares of the medical research company’s stock valued at $1,805,000 after purchasing an additional 2,265 shares in the last quarter. Intech Investment Management LLC raised its position in Exact Sciences by 3.5% during the 3rd quarter. Intech Investment Management LLC now owns 11,986 shares of the medical research company’s stock valued at $816,000 after purchasing an additional 402 shares in the last quarter. Grandfield & Dodd LLC raised its position in Exact Sciences by 30.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 103,999 shares of the medical research company’s stock valued at $7,084,000 after purchasing an additional 24,103 shares in the last quarter. EULAV Asset Management raised its position in Exact Sciences by 7.0% during the 3rd quarter. EULAV Asset Management now owns 305,000 shares of the medical research company’s stock valued at $20,777,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in Exact Sciences by 1.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock valued at $1,952,000 after purchasing an additional 402 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

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.