Benchmark Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective trimmed by Benchmark from $67.00 to $65.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other analysts also recently weighed in on EXAS. Sanford C. Bernstein upped their price objective on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company began coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. Piper Sandler upped their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Finally, Stifel Nicolaus lowered their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Price Performance

EXAS stock opened at $54.72 on Wednesday. The company’s 50-day moving average price is $67.14 and its two-hundred day moving average price is $56.65. The firm has a market cap of $10.11 billion, a P/E ratio of -57.00 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, analysts anticipate that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Exact Sciences

In other 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 value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its holdings in shares of Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after buying an additional 158 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Exact Sciences by 1.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after acquiring an additional 200 shares during the period. Amalgamated Bank grew its holdings in Exact Sciences by 2.7% in the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after purchasing an additional 284 shares during the period. Midwest Professional Planners LTD. increased its stake in Exact Sciences by 12.3% in the first quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock valued at $213,000 after purchasing an additional 339 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake 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 valued at $49,000 after purchasing an additional 340 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

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.