Craig Hallum Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $81.00

Exact Sciences (NASDAQ:EXASGet Rating) had its price objective dropped by Craig Hallum from $100.00 to $81.00 in a research note issued on Wednesday, The Fly reports. Craig Hallum’s target price suggests a potential upside of 33.88% from the company’s current price.

A number of other analysts have also commented on the stock. Raymond James lowered their target price on shares of Exact Sciences from $90.00 to $80.00 in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $100.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 19th. Citigroup lowered their target price on shares of Exact Sciences from $80.00 to $65.00 in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of Exact Sciences from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 23rd. Finally, SVB Leerink reduced their price target on shares of Exact Sciences from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $113.00.

Shares of Exact Sciences stock opened at $60.50 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.56. The firm has a market cap of $10.53 billion, a P/E ratio of -17.49 and a beta of 1.14. The firm has a 50 day simple moving average of $68.84 and a 200 day simple moving average of $78.46. Exact Sciences has a fifty-two week low of $56.77 and a fifty-two week high of $140.18.

Exact Sciences (NASDAQ:EXASGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The medical research company reported ($1.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.08. Exact Sciences had a negative net margin of 33.71% and a negative return on equity of 16.95%. During the same period last year, the company earned ($0.18) earnings per share. On average, sell-side analysts expect that Exact Sciences will post -4.33 EPS for the current year.

In other Exact Sciences news, insider D Scott Coward sold 5,815 shares of Exact Sciences stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $70.10, for a total value of $407,631.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 1,839 shares of Exact Sciences stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $79.55, for a total transaction of $146,292.45. The disclosure for this sale can be found here. Insiders sold a total of 58,636 shares of company stock worth $4,443,252 over the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Mine & Arao Wealth Creation & Management LLC. increased its stake in shares of Exact Sciences by 1,562.5% during the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 266 shares of the medical research company’s stock worth $25,000 after purchasing an additional 250 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Exact Sciences during the 4th quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Exact Sciences during the 4th quarter worth about $37,000. FSB Premier Wealth Management Inc. acquired a new position in shares of Exact Sciences during the 4th quarter worth about $36,000. Finally, Masso Torrence Wealth Management Inc. acquired a new position in shares of Exact Sciences during the 4th quarter worth about $37,000. Institutional investors own 94.84% of the company’s stock.

Exact Sciences Company Profile (Get Rating)

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, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

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