Craig Hallum Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $65.00

Exact Sciences (NASDAQ:EXAS) had its price objective lowered by Craig Hallum from $82.00 to $65.00 in a report published on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the medical research company’s stock.

Several other research firms have also weighed in on EXAS. The Goldman Sachs Group dropped their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Benchmark dropped their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Robert W. Baird dropped their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Wells Fargo & Company started coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. 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, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Trading Down 3.3 %

Shares of EXAS stock traded down $1.75 during trading hours on Wednesday, hitting $51.48. 4,689,229 shares of the company were exchanged, compared to its average volume of 2,310,664. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.98 and a current ratio of 2.12. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The business’s 50-day simple moving average is $66.76 and its two-hundred day simple moving average is $56.55.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Exact Sciences will post -0.87 EPS for the current year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 directly owns 13,687 shares in the company, valued at approximately $958,090. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.36% of the stock is currently owned by insiders.

Institutional Trading of Exact Sciences

A number of large investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its holdings in Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after buying an additional 158 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in 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 worth $825,000 after purchasing an additional 200 shares during the period. Amalgamated Bank boosted its stake in Exact Sciences by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after purchasing an additional 284 shares during the period. Midwest Professional Planners LTD. boosted its stake in Exact Sciences by 12.3% in the 1st quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock worth $213,000 after purchasing an additional 339 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after purchasing an additional 340 shares during the period. 88.82% of the stock is currently owned by institutional investors.

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.