Exact Sciences (NASDAQ:EXAS) Price Target Cut to $65.00 by Analysts at Barclays

Exact Sciences (NASDAQ:EXAS) had its price target dropped by research analysts at Barclays from $70.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 28.76% from the stock’s current price.

A number of other research analysts have also recently issued reports on EXAS. Benchmark reaffirmed a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a report on Monday, January 13th. 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 note on Wednesday, November 6th. Bank of America lowered their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday. The Goldman Sachs Group dropped their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group cut their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

Exact Sciences Stock Up 1.7 %

EXAS stock opened at $50.48 on Thursday. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The company has a fifty day moving average of $55.41 and a 200-day moving average of $60.10. The stock has a market capitalization of $9.34 billion, a PE ratio of -43.14 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. As a group, analysts expect that Exact Sciences will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Exact Sciences by 115.5% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 236,617 shares of the medical research company’s stock worth $13,296,000 after acquiring an additional 126,802 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Exact Sciences by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,421,671 shares of the medical research company’s stock worth $79,884,000 after purchasing an additional 81,774 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Exact Sciences by 22.4% during the 4th quarter. Vident Advisory LLC now owns 22,447 shares of the medical research company’s stock valued at $1,261,000 after buying an additional 4,110 shares during the last quarter. Spyglass Capital Management LLC grew its stake in shares of Exact Sciences by 10.2% in the 4th quarter. Spyglass Capital Management LLC now owns 1,539,436 shares of the medical research company’s stock valued at $86,501,000 after buying an additional 142,343 shares in the last quarter. Finally, Triglav Skladi D.O.O. bought a new position in Exact Sciences during the fourth quarter valued at approximately $1,025,000. 88.82% of the stock is owned by hedge funds and other 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.