Exact Sciences (NASDAQ:EXAS) Given New $65.00 Price Target at Craig Hallum

Exact Sciences (NASDAQ:EXAS) had its price target reduced by equities research analysts at Craig Hallum from $82.00 to $65.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Craig Hallum’s price target points to a potential upside of 22.11% from the stock’s previous close.

Several other analysts have also issued reports on EXAS. Piper Sandler upped their target price on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. The Goldman Sachs Group dropped their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Stifel Nicolaus decreased their target price on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company started coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. Finally, Benchmark cut their price target on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Price Performance

Shares of EXAS opened at $53.23 on Wednesday. The company has a 50 day moving average of $66.96 and a 200-day moving average of $56.63. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $9.84 billion, a P/E ratio of -55.45 and a beta of 1.27. Exact Sciences has a twelve month low of $40.62 and a twelve month 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 analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on 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 sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of large investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC increased its position in shares of Exact Sciences by 1.7% in the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Exact Sciences by 1.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after acquiring an additional 284 shares during the period. Midwest Professional Planners LTD. boosted its position in shares of Exact Sciences by 12.3% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock worth $213,000 after acquiring an additional 339 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after acquiring an additional 340 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.