Raymond James Trims Exact Sciences (NASDAQ:EXAS) Target Price to $80.00

Exact Sciences (NASDAQ:EXASGet Rating) had its price target cut by equities research analysts at Raymond James from $90.00 to $80.00 in a report released on Wednesday, The Fly reports. Raymond James’ target price would indicate a potential upside of 36.45% from the company’s current price.

A number of other brokerages have also recently issued reports on EXAS. Wells Fargo & Company decreased their target price on Exact Sciences from $95.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 23rd. Citigroup decreased their target price on Exact Sciences from $80.00 to $65.00 in a research report on Wednesday. SVB Leerink cut their price target on Exact Sciences from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, February 23rd. The Goldman Sachs Group cut their price target on Exact Sciences from $100.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 19th. Finally, Craig Hallum cut their target price on Exact Sciences from $133.00 to $100.00 in a research note on Wednesday, February 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $114.36.

Shares of NASDAQ EXAS opened at $58.63 on Wednesday. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of -16.95 and a beta of 1.14. The business has a 50 day simple moving average of $68.84 and a 200 day simple moving average of $78.46. Exact Sciences has a 52 week low of $56.77 and a 52 week high of $140.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.56 and a current ratio of 2.76.

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

In related news, SVP Sarah Condella sold 938 shares of the firm’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $79.55, for a total value of $74,617.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Thomas Elliott sold 1,839 shares of the firm’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $79.55, for a total value of $146,292.45. The disclosure for this sale can be found here. Insiders have sold 58,636 shares of company stock worth $4,443,252 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Mine & Arao Wealth Creation & Management LLC. boosted its holdings in Exact Sciences by 1,562.5% in the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 266 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 250 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Exact Sciences during the fourth quarter worth about $28,000. FSB Premier Wealth Management Inc. bought a new position in Exact Sciences during the fourth quarter worth about $36,000. Masso Torrence Wealth Management Inc. bought a new position in Exact Sciences during the fourth quarter worth about $37,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Exact Sciences during the fourth quarter worth about $37,000. Institutional investors and hedge funds 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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