Exact Sciences (NASDAQ:EXAS) Price Target Cut to $65.00 by Analysts at Barclays

Exact Sciences (NASDAQ:EXAS) had its price objective reduced by Barclays from $75.00 to $65.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the medical research company’s stock.

Several other equities analysts have also recently weighed in on EXAS. Scotiabank increased their price target on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Mizuho initiated coverage on Exact Sciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 target price on the stock. Royal Bank Of Canada boosted their price target on Exact Sciences from $52.00 to $54.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Piper Sandler reduced their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $70.40.

Exact Sciences Trading Down 2.6%

Exact Sciences stock opened at $51.17 on Tuesday. Exact Sciences has a one year low of $39.97 and a one year high of $72.83. The business’s fifty day moving average is $52.19 and its 200 day moving average is $51.63. The stock has a market capitalization of $9.65 billion, a PE ratio of -9.29, a price-to-earnings-growth ratio of 39.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The business had revenue of $706.79 million for the quarter, compared to analysts’ expectations of $688.58 million. During the same quarter in the prior year, the business earned ($0.60) EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts predict that Exact Sciences will post -0.58 EPS for the current year.

Insider Buying and Selling at Exact Sciences

In other news, Director Katherine S. Zanotti sold 3,207 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the sale, the director now directly owns 72,759 shares in the company, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its stake in shares of Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 589 shares during the last quarter. National Pension Service increased its position in shares of Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 292 shares during the last quarter. SVB Wealth LLC purchased a new stake in Exact Sciences during the 1st quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Exact Sciences during the 1st quarter valued at $34,000. Finally, Banque Cantonale Vaudoise bought a new stake in Exact Sciences in the first quarter worth $34,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.