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

Exact Sciences (NASDAQ:EXAS) had its price objective decreased by stock analysts at Bank of America from $72.00 to $65.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Bank of America‘s target price suggests a potential upside of 28.76% from the company’s current price.

EXAS has been the subject of several other research reports. Sanford C. Bernstein lifted their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler dropped their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. TD Cowen raised their price target on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays initiated coverage on shares of Exact Sciences in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $70.00 target price for the company. Finally, BTIG Research lifted their target price on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

Exact Sciences Price Performance

Shares of EXAS opened at $50.48 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The company’s 50-day moving average is $55.41 and its 200-day moving average is $60.10. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm 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 quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Equities analysts forecast that Exact Sciences will post -1.1 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently made changes to their positions in EXAS. AMF Tjanstepension AB bought a new position in shares of Exact Sciences in the third quarter valued at approximately $724,000. Creative Planning lifted its holdings in Exact Sciences by 14.8% during the 3rd quarter. Creative Planning now owns 38,060 shares of the medical research company’s stock worth $2,593,000 after buying an additional 4,906 shares in the last quarter. Blue Trust Inc. boosted its position in Exact Sciences by 61.0% in the 3rd quarter. Blue Trust Inc. now owns 5,220 shares of the medical research company’s stock valued at $356,000 after buying an additional 1,978 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at $569,000. Finally, Signaturefd LLC raised its position in shares of Exact Sciences by 53.7% during the third quarter. Signaturefd LLC now owns 1,652 shares of the medical research company’s stock worth $113,000 after acquiring an additional 577 shares during the last quarter. Institutional investors 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.