Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $70.00 at Piper Sandler

Exact Sciences (NASDAQ:EXAS) had its price objective reduced by Piper Sandler from $75.00 to $70.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

EXAS has been the topic of a number of other research reports. Bank of America reduced their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group upped their target price on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus cut their price target on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Craig Hallum decreased their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.94.

Exact Sciences Stock Down 0.9 %

Shares of Exact Sciences stock opened at $47.41 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The company’s 50 day moving average price is $53.93 and its 200-day moving average price is $59.72. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of -8.51 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Equities research analysts forecast that Exact Sciences will post -0.58 EPS for the current year.

Institutional Trading of Exact Sciences

Hedge funds have recently made changes to their positions in the stock. AMF Tjanstepension AB purchased a new position in Exact Sciences during the third quarter valued at $724,000. International Assets Investment Management LLC purchased a new position in shares of Exact Sciences in the 3rd quarter worth about $11,257,000. Ballentine Partners LLC purchased a new position in shares of Exact Sciences in the 3rd quarter worth about $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Exact Sciences during the 3rd quarter valued at about $49,000. Finally, Forsta AP Fonden bought a new stake in Exact Sciences during the 3rd quarter valued at about $2,643,000. 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.