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

Exact Sciences (NASDAQ:EXAS) had its price target trimmed by Benchmark from $67.00 to $65.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

EXAS has been the subject of a number of other research reports. Robert W. Baird reduced their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler raised their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Craig Hallum lowered their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Evercore ISI increased their price objective on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein lifted their target price on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $54.72 on Wednesday. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of -57.00 and a beta of 1.27. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The company’s fifty day simple moving average is $67.14 and its 200 day simple moving average is $56.65. 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 quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate 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 for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts forecast that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC increased its position in Exact Sciences by 12.5% during the first quarter. Private Advisor Group LLC now owns 26,974 shares of the medical research company’s stock worth $1,863,000 after acquiring an additional 2,999 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Exact Sciences by 1.7% during 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 in the last quarter. Motive Wealth Advisors bought a new position in shares of Exact Sciences during the first quarter worth approximately $201,000. Oppenheimer & Co. Inc. raised its position in shares of Exact Sciences by 1.8% in the first quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company’s stock valued at $1,594,000 after buying an additional 401 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in shares of Exact Sciences by 32.4% in the first quarter. ClariVest Asset Management LLC now owns 25,313 shares of the medical research company’s stock valued at $1,748,000 after buying an additional 6,192 shares during the period. 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.