Jefferies Financial Group Raises Exact Sciences (NASDAQ:EXAS) Price Target to $85.00

Exact Sciences (NASDAQ:EXAS) had its price objective raised by Jefferies Financial Group from $84.00 to $85.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

EXAS has been the subject of several other research reports. BTIG Research dropped 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. Wells Fargo & Company assumed coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. Robert W. Baird cut their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday. Evercore ISI reduced their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group lowered their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

Shares of EXAS stock opened at $51.48 on Wednesday. The stock’s fifty day simple moving average is $66.76 and its 200 day simple moving average is $56.51. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of -44.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.98.

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

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank grew its holdings in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the period. Capital Performance Advisors LLP bought a new position in Exact Sciences during the third quarter worth about $35,000. Vestor Capital LLC acquired a new position in Exact Sciences in the third quarter valued at about $46,000. V Square Quantitative Management LLC bought a new stake in shares of Exact Sciences in the third quarter worth about $47,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences during the second quarter worth about $29,000. Institutional investors own 88.82% of the company’s stock.

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.