Exact Sciences (NASDAQ:EXAS) PT Lowered to $70.00 at Raymond James

Exact Sciences (NASDAQ:EXAS – Get Rating) had its price target trimmed by Raymond James from $80.00 to $70.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

A number of other research firms also recently issued reports on EXAS. Cowen dropped their target price on shares of Exact Sciences from $83.00 to $67.00 and set an outperform rating for the company in a research report on Wednesday. Craig Hallum dropped their target price on shares of Exact Sciences from $81.00 to $60.00 and set a buy rating for the company in a research report on Wednesday. Citigroup decreased their price target on Exact Sciences from $65.00 to $50.00 and set a neutral rating for the company in a report on Wednesday. Piper Sandler began coverage on Exact Sciences in a report on Thursday, June 2nd. They issued a neutral rating and a $50.00 price target for the company. Finally, Robert W. Baird decreased their price target on Exact Sciences from $90.00 to $75.00 and set an outperform rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $73.09.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $47.05 on Wednesday. Exact Sciences has a 12 month low of $35.34 and a 12 month high of $108.99. The company has a 50-day moving average of $44.58 and a 200-day moving average of $59.00. The company has a quick ratio of 2.29, a current ratio of 2.48 and a debt-to-equity ratio of 0.70.

Insider Activity

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

Hedge Funds Weigh In On Exact Sciences

Large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its stake in Exact Sciences by 44.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 667 shares of the medical research company’s stock worth $26,000 after purchasing an additional 205 shares during the last quarter. Ellevest Inc. lifted its stake in Exact Sciences by 103.6% during the second quarter. Ellevest Inc. now owns 682 shares of the medical research company’s stock worth $27,000 after purchasing an additional 347 shares during the last quarter. FSB Premier Wealth Management Inc. acquired a new stake in Exact Sciences in the fourth quarter worth $36,000. Masso Torrence Wealth Management Inc. acquired a new stake in Exact Sciences in the fourth quarter worth $37,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Exact Sciences in the fourth quarter worth $37,000. 94.45% of the stock is currently owned by institutional investors.

About Exact Sciences

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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.