Exact Sciences (NASDAQ:EXAS) Price Target Cut to $82.00 by Analysts at TD Cowen

Exact Sciences (NASDAQ:EXAS) had its target price trimmed by TD Cowen from $90.00 to $82.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

EXAS has been the topic of several other research reports. The Goldman Sachs Group dropped their target price on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Benchmark dropped their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company started coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. Stifel Nicolaus lowered their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Canaccord Genuity Group increased their price target on shares of Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Price Performance

Exact Sciences stock opened at $51.48 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.98. The business has a 50 day simple moving average of $66.76 and a 200-day simple moving average of $56.51. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a market capitalization of $9.53 billion, a PE ratio of -44.00 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts predict that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently modified their holdings of EXAS. Landscape Capital Management L.L.C. lifted its stake in shares of Exact Sciences by 9.3% during the third quarter. Landscape Capital Management L.L.C. now owns 26,491 shares of the medical research company’s stock valued at $1,805,000 after buying an additional 2,265 shares during the period. Intech Investment Management LLC lifted its stake in shares of Exact Sciences by 3.5% during the 3rd quarter. Intech Investment Management LLC now owns 11,986 shares of the medical research company’s stock worth $816,000 after purchasing an additional 402 shares during the period. Grandfield & Dodd LLC boosted its holdings in shares of Exact Sciences by 30.2% during the third quarter. Grandfield & Dodd LLC now owns 103,999 shares of the medical research company’s stock worth $7,084,000 after purchasing an additional 24,103 shares during the last quarter. EULAV Asset Management grew its position in shares of Exact Sciences by 7.0% in the third quarter. EULAV Asset Management now owns 305,000 shares of the medical research company’s stock valued at $20,777,000 after purchasing an additional 20,000 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Exact Sciences by 1.4% in the third quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock valued at $1,952,000 after purchasing an additional 402 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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.