Evercore ISI Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $72.00

Exact Sciences (NASDAQ:EXAS) had its price target reduced by equities researchers at Evercore ISI from $80.00 to $72.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price objective would suggest a potential upside of 66.71% from the stock’s current price.

Several other research firms have also recently weighed in on EXAS. Scotiabank initiated coverage on shares of Exact Sciences in a report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Citigroup lowered their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Jefferies Financial Group initiated coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a “buy” rating and a $75.00 target price on the stock. Finally, BTIG Research lowered their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.80.

Exact Sciences Trading Up 0.0 %

Exact Sciences stock opened at $43.19 on Tuesday. Exact Sciences has a one year low of $40.62 and a one year high of $100.77. The company has a market cap of $7.97 billion, a price-to-earnings ratio of -32.72 and a beta of 1.22. The firm has a 50-day moving average of $49.20 and a 200-day moving average of $59.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.64 and a quick ratio of 1.45.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. The business had revenue of $637.52 million during the quarter, compared to the consensus estimate of $624.95 million. On average, equities analysts expect that Exact Sciences will post -1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 1,498 shares of company stock valued at $90,105. 1.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of Exact Sciences by 172.0% in the 3rd quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock worth $22,398,000 after acquiring an additional 207,623 shares during the last quarter. Thompson Investment Management Inc. raised its holdings in shares of Exact Sciences by 13.1% in the 1st quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock worth $11,090,000 after acquiring an additional 18,595 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after acquiring an additional 115,058 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of Exact Sciences by 5.0% in the 4th quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock worth $1,561,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Exact Sciences by 4.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.