Exact Sciences (NASDAQ:EXAS) Given New $82.00 Price Target at TD Cowen

Exact Sciences (NASDAQ:EXAS) had its price target reduced by equities research analysts at TD Cowen from $90.00 to $82.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. TD Cowen’s price target points to a potential upside of 57.81% from the stock’s current price.

Several other research firms have also recently weighed in on EXAS. Evercore ISI upped their price target on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. Stifel Nicolaus cut 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 report on Thursday, August 1st. Sanford C. Bernstein upped their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.12.

Exact Sciences Price Performance

Shares of EXAS stock traded down $19.55 during trading hours on Wednesday, reaching $51.96. The company’s stock had a trading volume of 9,093,962 shares, compared to its average volume of 2,558,984. The firm’s 50 day simple moving average is $67.27 and its 200-day simple moving average is $56.67. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of -54.04 and a beta of 1.27. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last issued its 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). The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. 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 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC lifted its position in shares of Exact Sciences by 1.7% during the 3rd 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 during the last quarter. Daiwa Securities Group Inc. raised its position 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 valued at $825,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank raised its position in Exact Sciences by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 284 shares during the last quarter. Midwest Professional Planners LTD. raised its position in 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 buying an additional 339 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying 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.