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

Exact Sciences (NASDAQ:EXAS - Free Report) had its price objective reduced by Piper Sandler from $75.00 to $70.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical research company's stock.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group dropped their price target on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Evercore ISI dropped their price target on shares of Exact Sciences from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. TD Cowen boosted their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, 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 research report on Wednesday, October 30th. 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 data from MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.94.

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Exact Sciences Stock Performance

Exact Sciences stock traded down $0.41 during midday trading on Wednesday, reaching $47.41. 3,106,807 shares of the stock traded hands, compared to its average volume of 2,341,992. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average price of $53.93 and a two-hundred day moving average price of $59.75. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of -8.51 and a beta of 1.24. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. On average, equities research analysts forecast that Exact Sciences will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently made changes to their positions in the company. Huntington National Bank raised its holdings 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 valued at $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Exact Sciences during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new position in Exact Sciences during the third quarter valued at approximately $35,000. Vestor Capital LLC purchased a new position in Exact Sciences during the third quarter valued at approximately $46,000. Finally, Asset Planning Inc purchased a new position in Exact Sciences during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds 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.