Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $67.00 at Robert W. Baird

Exact Sciences (NASDAQ:EXAS - Free Report) had its price target decreased by Robert W. Baird from $70.00 to $67.00 in a report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical research company's stock.

Several other equities analysts have also issued reports on EXAS. Raymond James restated a "market perform" rating on shares of Exact Sciences in a research report on Thursday, September 26th. Evercore ISI boosted their price target on Exact Sciences from $72.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Sanford C. Bernstein raised their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Benchmark lowered their price target on shares of Exact Sciences from $91.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. Finally, The Goldman Sachs Group reduced their target price on Exact Sciences from $88.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and an average price target of $75.06.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded down $16.79 during trading on Wednesday, reaching $54.72. The company had a trading volume of 16,773,744 shares, compared to its average volume of 2,594,698. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The business's 50 day moving average price is $67.27 and its 200-day moving average price is $56.67. The stock has a market cap of $10.11 billion, a PE ratio of -56.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business's revenue was up 12.8% on a year-over-year basis. Analysts expect that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares of the company's stock, valued at $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC raised its stake in Exact Sciences by 12.5% during the first quarter. Private Advisor Group LLC now owns 26,974 shares of the medical research company's stock worth $1,863,000 after buying an additional 2,999 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Exact Sciences by 1.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company's stock valued at $825,000 after purchasing an additional 200 shares during the period. Motive Wealth Advisors acquired a new position in shares of Exact Sciences in the 1st quarter valued at about $201,000. Oppenheimer & Co. Inc. boosted its position in shares of Exact Sciences by 1.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company's stock valued at $1,594,000 after purchasing an additional 401 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its holdings in Exact Sciences by 32.4% in the first quarter. ClariVest Asset Management LLC now owns 25,313 shares of the medical research company's stock worth $1,748,000 after purchasing an additional 6,192 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

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.