Stifel Nicolaus Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $82.00

Exact Sciences (NASDAQ:EXAS) had its price target cut by Stifel Nicolaus from $100.00 to $82.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other brokerages have also weighed in on EXAS. BTIG Research cut their target price on shares of Exact Sciences from $80.00 to $70.00 and set a buy rating on the stock in a research report on Wednesday, June 26th. Evercore ISI cut their target price on shares of Exact Sciences from $80.00 to $72.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. Scotiabank initiated coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a sector outperform rating and a $70.00 price target on the stock. Citigroup cut their price target on shares of Exact Sciences from $100.00 to $80.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, Jefferies Financial Group initiated coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They set a buy rating and a $75.00 target price for the company. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $78.77.

Exact Sciences Price Performance

Shares of Exact Sciences stock traded down $0.56 on Thursday, reaching $57.35. 5,207,736 shares of the stock were exchanged, compared to its average volume of 3,104,698. The firm’s 50 day moving average is $45.38 and its 200-day moving average is $56.09. Exact Sciences has a one year low of $40.62 and a one year high of $88.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 2.17. The firm has a market cap of $10.60 billion, a PE ratio of -43.45 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The company had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.45) EPS. As a group, analysts anticipate that Exact Sciences will post -1.17 EPS for the current fiscal year.

Institutional Trading of Exact Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Belpointe Asset Management LLC raised its position in shares of Exact Sciences by 74.2% in the second quarter. Belpointe Asset Management LLC now owns 71,837 shares of the medical research company’s stock valued at $3,035,000 after purchasing an additional 30,592 shares during the period. CIBC Asset Management Inc increased its holdings in Exact Sciences by 6.2% during the 2nd quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock worth $258,000 after acquiring an additional 356 shares during the period. AM Squared Ltd bought a new stake in Exact Sciences during the 2nd quarter worth approximately $76,000. Van ECK Associates Corp increased its holdings in Exact Sciences by 5.3% during the 2nd quarter. Van ECK Associates Corp now owns 153,349 shares of the medical research company’s stock worth $6,479,000 after acquiring an additional 7,785 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in Exact Sciences by 76.9% during the 2nd quarter. Banque Cantonale Vaudoise now owns 12,099 shares of the medical research company’s stock worth $512,000 after acquiring an additional 5,258 shares during the period. Institutional investors 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.