Bank of America Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $72.00

Exact Sciences (NASDAQ:EXAS) had its price objective dropped by research analysts at Bank of America from $75.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Bank of America‘s target price suggests a potential upside of 17.34% from the company’s current price.

A number of other research firms also recently commented on EXAS. The Goldman Sachs Group reduced their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective for the company. Jefferies Financial Group increased their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Sanford C. Bernstein lifted their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Craig Hallum dropped their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.11.

Exact Sciences Stock Down 1.8 %

Shares of NASDAQ:EXAS traded down $1.15 during midday trading on Friday, reaching $61.36. The company had a trading volume of 233,824 shares, compared to its average volume of 2,617,385. The stock has a market capitalization of $11.36 billion, a P/E ratio of -52.04 and a beta of 1.24. The stock’s fifty day moving average price is $62.87 and its 200-day moving average price is $56.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences has a one year low of $40.62 and a one year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts expect that Exact Sciences will post -1.13 earnings per share for the current fiscal year.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the firm’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 completion of the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EXAS. Chicago Partners Investment Group LLC grew 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 valued at $651,000 after acquiring an additional 158 shares in the last quarter. Amalgamated Bank grew its stake in Exact Sciences by 2.7% in the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 284 shares in the last quarter. Huntington National Bank increased its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Exact Sciences by 6.2% during the 2nd quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock worth $258,000 after purchasing an additional 356 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Exact Sciences by 1.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock valued at $1,952,000 after buying an additional 402 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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.