Piper Sandler Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price target decreased by investment analysts at Piper Sandler from $85.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s price target indicates a potential upside of 49.52% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company assumed coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective for the company. Jefferies Financial Group raised their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. BTIG Research cut their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI lowered their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $74.47.

Exact Sciences Stock Down 2.3 %

Shares of EXAS stock opened at $50.16 on Monday. 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 capitalization of $9.28 billion, a PE ratio of -42.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.98 and a current ratio of 2.12. The stock’s 50-day simple moving average is $66.35 and its 200-day simple moving average is $56.34.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share 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 business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The company’s revenue was up 12.8% on a year-over-year basis. Equities analysts expect that Exact Sciences will post -1.02 earnings per share for the current year.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares of the company’s stock, 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 can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank boosted its stake in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences during the 2nd quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences in the 3rd quarter valued at approximately $35,000. Vestor Capital LLC acquired a new stake in Exact Sciences in the 3rd quarter valued at approximately $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in Exact Sciences in the third quarter valued at approximately $47,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Company Profile

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.