Exact Sciences (NASDAQ:EXAS) Downgraded by Raymond James to Market Perform

Raymond James downgraded shares of Exact Sciences (NASDAQ:EXASGet Rating) from an outperform rating to a market perform rating in a report published on Wednesday, The Fly reports.

Other equities analysts have also recently issued research reports about the company. SVB Leerink lifted their price target on Exact Sciences from $70.00 to $75.00 and gave the stock an outperform rating in a research note on Thursday, January 12th. Piper Sandler lifted their target price on Exact Sciences from $40.00 to $50.00 and gave the company a neutral rating in a research note on Monday, November 14th. BTIG Research lowered their target price on Exact Sciences from $70.00 to $65.00 and set a buy rating on the stock in a research note on Monday, November 7th. StockNews.com started coverage on Exact Sciences in a research note on Wednesday, October 12th. They set a hold rating on the stock. Finally, Citigroup lowered their target price on Exact Sciences from $50.00 to $35.00 in a research note on Friday, November 4th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $61.57.

Exact Sciences Trading Down 0.7 %

Shares of EXAS opened at $67.92 on Wednesday. The business’s 50-day moving average price is $49.58 and its 200 day moving average price is $42.75. The stock has a market capitalization of $12.07 billion, a P/E ratio of -16.57 and a beta of 1.30. Exact Sciences has a 1-year low of $29.27 and a 1-year high of $84.31. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXASGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The medical research company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.26. The firm had revenue of $523.07 million for the quarter, compared to analysts’ expectations of $500.78 million. Exact Sciences had a negative return on equity of 22.10% and a negative net margin of 35.73%. Analysts expect that Exact Sciences will post -3.69 earnings per share for the current year.

Insider Activity at Exact Sciences

In related news, EVP Sarah Condella sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $60.00, for a total value of $60,000.00. Following the completion of the sale, the executive vice president now owns 85,090 shares of the company’s stock, valued at approximately $5,105,400. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXAS. American Century Companies Inc. lifted its holdings in Exact Sciences by 16.5% in the 1st quarter. American Century Companies Inc. now owns 5,760 shares of the medical research company’s stock worth $403,000 after purchasing an additional 817 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Exact Sciences in the 1st quarter worth approximately $742,000. Panagora Asset Management Inc. lifted its holdings in Exact Sciences by 4.6% in the 1st quarter. Panagora Asset Management Inc. now owns 7,281 shares of the medical research company’s stock worth $509,000 after purchasing an additional 323 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Exact Sciences by 13.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 448,640 shares of the medical research company’s stock worth $31,377,000 after purchasing an additional 53,454 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in Exact Sciences by 143.5% in the 1st quarter. Vontobel Holding Ltd. now owns 22,230 shares of the medical research company’s stock worth $1,585,000 after purchasing an additional 13,102 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

About Exact Sciences

(Get Rating)

EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.

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