Exact Sciences (NASDAQ:EXAS) Given New $65.00 Price Target at Benchmark

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its target price cut by stock analysts at Benchmark from $67.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. Benchmark's price target would suggest a potential upside of 18.79% from the company's current price.

Several other equities research analysts have also commented on EXAS. The Goldman Sachs Group cut their price target on shares of Exact Sciences from $88.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. Sanford C. Bernstein boosted their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their price target on shares of Exact Sciences from $100.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Evercore ISI lifted their target price on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird lowered their target price on shares of Exact Sciences from $70.00 to $67.00 and set an "outperform" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.06.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS traded down $16.79 during trading on Wednesday, hitting $54.72. 16,772,340 shares of the stock traded hands, compared to its average volume of 2,594,698. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a market cap of $10.11 billion, a price-to-earnings ratio of -56.71 and a beta of 1.27. The company has a fifty day moving average price of $67.27 and a two-hundred day moving average price of $56.67. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its 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). The firm had revenue of $708.66 million for 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 firm's revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts predict that Exact Sciences will post -0.87 EPS for the current year.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the business's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.36% of the stock is owned by insiders.

Institutional Trading of Exact Sciences

Hedge funds have recently made changes to their positions in the business. Huntington National Bank lifted its position in shares of 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 purchasing an additional 352 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the third quarter worth about $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences during the third quarter worth about $46,000. V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences during the third quarter worth about $47,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences during the second quarter worth about $29,000. 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.