Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $70.00 at BTIG Research

Exact Sciences (NASDAQ:EXAS) had its target price decreased by investment analysts at BTIG Research from $80.00 to $70.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. BTIG Research’s target price points to a potential upside of 57.34% from the company’s previous close.

A number of other brokerages have also weighed in on EXAS. Canaccord Genuity Group decreased their price objective on Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Citigroup lowered their price target on Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Jefferies Financial Group assumed coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They issued a “buy” rating and a $75.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.86.

Exact Sciences Stock Performance

Shares of EXAS opened at $44.49 on Wednesday. The stock has a 50-day moving average of $50.78 and a two-hundred day moving average of $60.41. The stock has a market cap of $8.21 billion, a P/E ratio of -33.70 and a beta of 1.26. Exact Sciences has a one year low of $40.62 and a one year high of $100.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.64.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $637.52 million during the quarter, compared to analysts’ expectations of $624.95 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. As a group, research analysts predict that Exact Sciences will post -1.15 EPS for the current year.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the completion of the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the completion of the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sarah Condella sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the executive vice president now owns 71,787 shares of the company’s stock, valued at approximately $5,025,090. The disclosure for this sale can be found here. Insiders have sold a total of 3,498 shares of company stock worth $230,105 in the last quarter. 1.36% of the stock is owned by company insiders.

Institutional Trading of Exact Sciences

Large investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC increased its stake in Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after buying an additional 179 shares in the last quarter. Able Wealth Management LLC acquired a new position in Exact Sciences during the fourth quarter worth $45,000. EverSource Wealth Advisors LLC raised its position in Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after acquiring an additional 340 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in Exact Sciences by 29.5% in the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Company Profile

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.