Craig Hallum Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its price objective reduced by equities researchers at Craig Hallum from $82.00 to $65.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the medical research company's stock. Craig Hallum's target price indicates a potential upside of 18.79% from the company's current price.

Several other brokerages have also commented on EXAS. Evercore ISI increased their price target on shares of Exact Sciences from $72.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Stifel Nicolaus lowered their target price on shares of Exact Sciences from $100.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Piper Sandler raised their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, September 12th. Benchmark lowered their target price on shares of Exact Sciences from $91.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Finally, Raymond James reiterated a "market perform" rating on shares of Exact Sciences in a research report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

Exact Sciences Stock Down 23.5 %

NASDAQ:EXAS traded down $16.79 during mid-day trading on Wednesday, hitting $54.72. The stock had a trading volume of 16,772,340 shares, compared to its average volume of 2,594,698. The stock has a 50-day simple moving average of $67.27 and a two-hundred day simple moving average of $56.67. The company has a market capitalization of $10.11 billion, a PE ratio of -56.71 and a beta of 1.27. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company's quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Exact Sciences will post -0.87 EPS for the current year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares of the company's stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank raised its stake in shares of Exact Sciences by 838.1% during the 3rd 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 last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Exact Sciences during the 2nd quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC acquired a new position in shares of Exact Sciences during the 3rd quarter worth $46,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Exact Sciences during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 88.82% of the company's stock.

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.