Piper Sandler Has Lowered Expectations for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective decreased by Piper Sandler from $75.00 to $70.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the medical research company’s stock.

A number of other research firms also recently commented on EXAS. Jefferies Financial Group lifted their target price on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird reduced their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen lifted their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Bank of America decreased their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. One equities research 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 presently has an average rating of “Moderate Buy” and an average target price of $71.94.

Exact Sciences Trading Down 3.3 %

Shares of EXAS opened at $48.50 on Wednesday. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The firm has a market capitalization of $9.01 billion, a P/E ratio of -8.71 and a beta of 1.24. The firm has a 50-day moving average price of $54.34 and a 200 day moving average price of $59.87. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Sell-side analysts forecast that Exact Sciences will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently bought and sold shares of the stock. Huntington National Bank increased its stake in shares of Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences during the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at $46,000. Finally, Asset Planning Inc purchased a new stake in shares of Exact Sciences during the 4th quarter worth $40,000. Institutional investors and hedge funds 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.