Citigroup Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $75.00

Exact Sciences (NASDAQ:EXAS) had its price objective cut by Citigroup from $80.00 to $75.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other research analysts have also issued reports on EXAS. Craig Hallum dropped their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Canaccord Genuity Group reduced their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. TD Cowen decreased their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, 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. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

NASDAQ EXAS opened at $51.48 on Wednesday. The stock’s 50-day moving average is $66.76 and its two-hundred day moving average is $56.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.98. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. 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 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s revenue was up 12.8% compared to the same quarter last year. On average, analysts anticipate that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm’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 transaction, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its holdings in shares of Exact Sciences by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after buying an additional 158 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Exact Sciences by 1.7% in the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after acquiring an additional 200 shares in the last quarter. Amalgamated Bank raised its position in shares of Exact Sciences by 2.7% during the second 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. lifted its holdings in shares of 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 valued at $213,000 after purchasing an additional 339 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.