Exact Sciences (NASDAQ:EXAS) Given New $65.00 Price Target at The Goldman Sachs Group

Exact Sciences (NASDAQ:EXAS) had its price objective decreased by research analysts at The Goldman Sachs Group from $75.00 to $65.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 25.10% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler lifted their price target on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Craig Hallum reduced their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company began coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. Sanford C. Bernstein raised their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus decreased 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. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.12.

Exact Sciences Price Performance

EXAS stock traded down $19.55 during mid-day trading on Wednesday, hitting $51.96. 9,093,962 shares of the stock were exchanged, compared to its average volume of 2,558,984. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The business has a fifty day moving average price of $67.27 and a 200 day moving average price of $56.67. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of -54.04 and a beta of 1.27.

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

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently added to or reduced their stakes in EXAS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Exact Sciences by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after acquiring an additional 12,349 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Exact Sciences by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after buying an additional 10,356 shares in the last quarter. Profund Advisors LLC grew its holdings in Exact Sciences by 239.8% during the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after buying an additional 55,459 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Exact Sciences during the second quarter worth $163,896,000. Finally, Swedbank AB bought a new position in Exact Sciences in the 1st quarter valued at $2,719,000. 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.