Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $65.00 at Bank of America

Exact Sciences (NASDAQ:EXAS) had its target price cut by Bank of America from $72.00 to $65.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other analysts have also recently weighed in on the company. BTIG Research boosted their price target on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Sanford C. Bernstein boosted their price target on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI reduced their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group reduced their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Piper Sandler reduced their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

Exact Sciences Stock Down 1.9 %

Shares of NASDAQ EXAS opened at $49.51 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The company has a market cap of $9.16 billion, a price-to-earnings ratio of -42.32 and a beta of 1.24. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a 50-day moving average price of $55.15 and a two-hundred day moving average price of $60.03.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. As a group, analysts forecast that Exact Sciences will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors have recently added to or reduced their stakes in EXAS. Huntington National Bank lifted 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 buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences in the third quarter valued at approximately $34,000. Capital Performance Advisors LLP acquired a new position in Exact Sciences in the third quarter valued at approximately $35,000. Asset Planning Inc acquired a new position in Exact Sciences in the fourth quarter valued at approximately $40,000. Finally, Modus Advisors LLC acquired a new position in Exact Sciences in the fourth quarter valued at approximately $43,000. 88.82% of the stock is owned by institutional investors and hedge funds.

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.