Stifel Nicolaus Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $67.00

Exact Sciences (NASDAQ:EXAS) had its target price decreased by equities researchers at Stifel Nicolaus from $82.00 to $67.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 25.87% from the company’s previous close.

Several other brokerages also recently issued reports on EXAS. The Goldman Sachs Group lowered their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird dropped their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday. Benchmark reduced their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler raised their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Finally, BTIG Research reduced their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $53.23 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $9.84 billion, a PE ratio of -55.45 and a beta of 1.27. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The stock’s 50-day simple moving average is $66.96 and its 200 day simple moving average is $56.63.

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 analysts’ consensus estimates of ($0.20) by ($0.01). The company 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 6.70% and a negative return on equity of 4.97%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s 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 sale, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank increased its stake in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences in the 2nd quarter valued at about $29,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences in the 3rd quarter valued at about $35,000. Vestor Capital LLC bought a new stake in Exact Sciences in the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC acquired a new position in Exact Sciences during the 3rd quarter worth approximately $47,000. 88.82% of the stock is owned by institutional investors.

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.