Canaccord Genuity Group Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective trimmed by Canaccord Genuity Group from $95.00 to $75.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other research analysts have also recently issued reports on the stock. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. BTIG Research cut their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Benchmark reduced their price target on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Sanford C. Bernstein raised their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. 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 %

EXAS stock opened at $51.48 on Wednesday. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $66.76 and its 200-day moving average is $56.51. The firm has a market cap of $9.53 billion, a P/E ratio of -44.00 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (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 analyst estimates of $716.80 million. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Huntington National Bank raised its holdings in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences in the 2nd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC acquired a new stake in Exact Sciences during the 3rd quarter worth $46,000. Finally, V Square Quantitative Management LLC bought a new position in Exact Sciences during the third quarter worth about $47,000. 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.