BTIG Research Trims Exact Sciences (NASDAQ:EXAS) Target Price to $70.00

Exact Sciences (NASDAQ:EXAS) had its target price cut by BTIG Research from $80.00 to $70.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other analysts have also issued reports on the company. Jefferies Financial Group initiated coverage on Exact Sciences in a research note on Monday, June 3rd. They issued a buy rating and a $75.00 price objective on the stock. Canaccord Genuity Group cut their price target on Exact Sciences from $90.00 to $85.00 and set a buy rating for the company in a report on Thursday, May 9th. Finally, Citigroup decreased their price objective on shares of Exact Sciences from $100.00 to $80.00 and set a buy rating on the stock in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $87.86.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $42.25 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $50.41 and a 200 day simple moving average of $60.25. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $100.77. The stock has a market capitalization of $7.80 billion, a PE ratio of -32.01 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $637.52 million during the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. On average, research analysts expect that Exact Sciences will post -1.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Sarah Condella sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the executive vice president now owns 71,787 shares of the company’s stock, valued at $5,025,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the sale, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the executive vice president now directly owns 71,787 shares in the company, valued at $5,025,090. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,498 shares of company stock worth $230,105. Company insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of institutional investors have recently bought and sold shares of the company. American Trust bought a new stake in Exact Sciences in the 1st quarter valued at about $208,000. EverSource Wealth Advisors LLC increased its holdings in shares of Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after acquiring an additional 340 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Exact Sciences by 41.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 58,116 shares of the medical research company’s stock worth $3,918,000 after purchasing an additional 16,980 shares during the period. EULAV Asset Management lifted its holdings in shares of Exact Sciences by 23.7% in the 1st quarter. EULAV Asset Management now owns 318,000 shares of the medical research company’s stock worth $21,961,000 after purchasing an additional 61,000 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in Exact Sciences by 518.8% in the 1st quarter. Cetera Advisors LLC now owns 39,147 shares of the medical research company’s stock valued at $2,703,000 after purchasing an additional 32,821 shares during the period. Institutional investors 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.