Cowen Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $67.00

Exact Sciences (NASDAQ:EXASGet Rating) had its target price decreased by Cowen from $83.00 to $67.00 in a report released on Wednesday morning, Stock Target Advisor reports. Cowen currently has an outperform rating on the medical research company’s stock.

A number of other brokerages have also recently issued reports on EXAS. StockNews.com raised shares of Exact Sciences from a sell rating to a hold rating in a research note on Tuesday, July 26th. Robert W. Baird reduced their price target on shares of Exact Sciences from $100.00 to $90.00 in a research report on Wednesday, April 27th. Citigroup reduced their price target on shares of Exact Sciences from $80.00 to $65.00 in a research report on Wednesday, April 27th. Craig Hallum reduced their price target on shares of Exact Sciences from $81.00 to $60.00 and set a buy rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on shares of Exact Sciences from $100.00 to $85.00 and set a buy rating on the stock in a research report on Tuesday, April 19th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $73.09.

Exact Sciences Stock Down 4.7 %

Shares of EXAS stock opened at $47.05 on Wednesday. Exact Sciences has a 52-week low of $35.34 and a 52-week high of $108.99. The company has a quick ratio of 2.29, a current ratio of 2.48 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average price is $44.58 and its two-hundred day moving average price is $59.00.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 4,608 shares of Exact Sciences stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $45.14, for a total value of $208,005.12. Following the sale, the director now directly owns 60,318 shares in the company, valued at approximately $2,722,754.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Exact Sciences news, Director Katherine S. Zanotti sold 4,608 shares of Exact Sciences stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $45.14, for a total value of $208,005.12. Following the sale, the director now directly owns 60,318 shares in the company, valued at approximately $2,722,754.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katherine S. Zanotti sold 1,086 shares of Exact Sciences stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $40.13, for a total transaction of $43,581.18. Following the completion of the sale, the director now owns 60,318 shares in the company, valued at $2,420,561.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,701 shares of company stock valued at $251,872. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EXAS. Nikko Asset Management Americas Inc. increased its stake in shares of Exact Sciences by 29.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 5,418,800 shares of the medical research company’s stock worth $412,750,000 after purchasing an additional 1,218,384 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Exact Sciences by 25.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,883,180 shares of the medical research company’s stock worth $457,888,000 after purchasing an additional 1,203,450 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Exact Sciences by 6.1% during the 1st quarter. ARK Investment Management LLC now owns 14,323,962 shares of the medical research company’s stock worth $1,001,531,000 after purchasing an additional 827,948 shares during the last quarter. Capital World Investors increased its stake in shares of Exact Sciences by 17.2% during the 1st quarter. Capital World Investors now owns 5,487,009 shares of the medical research company’s stock worth $383,652,000 after purchasing an additional 804,159 shares during the last quarter. Finally, Farallon Capital Management LLC increased its stake in shares of Exact Sciences by 149.4% during the 1st quarter. Farallon Capital Management LLC now owns 802,898 shares of the medical research company’s stock worth $56,139,000 after purchasing an additional 481,000 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Company Profile

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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.

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Analyst Recommendations for Exact Sciences (NASDAQ:EXAS)

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