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

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its price target reduced by Piper Sandler from $85.00 to $75.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical research company's stock. Piper Sandler's target price points to a potential upside of 47.15% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group raised their price objective on Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Evercore ISI lowered their target price on Exact Sciences from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Citigroup reduced their price target on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an "overweight" rating and a $75.00 target price for the company. Finally, Sanford C. Bernstein lifted 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 equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.47.

Exact Sciences Stock Down 1.0 %

Shares of EXAS stock traded down $0.51 during trading hours on Monday, reaching $50.97. The company had a trading volume of 2,456,673 shares, compared to its average volume of 2,613,586. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.98 and a current ratio of 2.12. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The stock's fifty day simple moving average is $66.76 and its 200 day simple moving average is $56.46. The company has a market capitalization of $9.43 billion, a P/E ratio of -44.00 and a beta of 1.27.

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 (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million for the quarter, compared to analysts' expectations of $716.80 million. The business's revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Exact Sciences will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.36% of the company's stock.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank boosted its position in 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 during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Exact Sciences during the 2nd quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences during the 3rd quarter valued at approximately $35,000. Vestor Capital LLC acquired a new stake in Exact Sciences in the 3rd quarter valued at approximately $46,000. Finally, V Square Quantitative Management LLC bought a new position in Exact Sciences in the 3rd quarter worth approximately $47,000. 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.