BTIG Research Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $80.00

Exact Sciences (NASDAQ:EXAS) had its target price dropped by stock analysts at BTIG Research from $85.00 to $80.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. BTIG Research’s price objective suggests a potential upside of 47.74% from the company’s current price.

A number of other research firms also recently weighed in on EXAS. William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Canaccord Genuity Group decreased their price target on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Finally, Citigroup decreased their target price on Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.40.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS traded down $5.33 during trading on Thursday, hitting $54.15. 10,687,198 shares of the company were exchanged, compared to its average volume of 2,383,032. The business’s 50 day moving average is $63.64 and its 200-day moving average is $64.66. The company has a market capitalization of $9.96 billion, a P/E ratio of -48.03 and a beta of 1.26. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. Exact Sciences has a 1-year low of $52.25 and a 1-year high of $100.77.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.26. The business had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. Exact Sciences’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.72) earnings per share. Equities analysts forecast that Exact Sciences will post -0.86 earnings per share for the current year.

Insider Activity

In other news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the executive vice president now owns 73,787 shares in the company, valued at approximately $5,165,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the executive vice president now owns 73,787 shares of the company’s stock, valued at $5,165,090. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin T. Conroy sold 14,791 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $908,611.13. Following the transaction, the chief executive officer now directly owns 1,224,357 shares of the company’s stock, valued at $75,212,250.51. The disclosure for this sale can be found here. Insiders have sold 70,611 shares of company stock worth $4,255,377 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. increased its position in shares of Exact Sciences by 4.2% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock valued at $325,000 after buying an additional 175 shares during the period. Perigon Wealth Management LLC increased its holdings in Exact Sciences by 2.1% during the 1st quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock worth $588,000 after acquiring an additional 175 shares during the period. Valley National Advisers Inc. boosted its holdings in Exact Sciences by 29.5% in the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after purchasing an additional 176 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after purchasing an additional 179 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Exact Sciences by 40.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock worth $48,000 after acquiring an additional 200 shares during the last quarter. 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.