Piper Sandler Boosts Exact Sciences (NASDAQ:EXAS) Price Target to $85.00

Exact Sciences (NASDAQ:EXAS) had its price objective raised by Piper Sandler from $75.00 to $85.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

EXAS has been the topic of a number of other research reports. BTIG Research reduced their price objective on Exact Sciences from $80.00 to $70.00 and set a buy rating on the stock in a research report on Wednesday, June 26th. Jefferies Financial Group started coverage on Exact Sciences in a research note on Monday, June 3rd. They set a buy rating and a $75.00 target price for the company. The Goldman Sachs Group cut their target price on Exact Sciences from $88.00 to $75.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Evercore ISI dropped their price objective on Exact Sciences from $80.00 to $72.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus dropped their price objective on Exact Sciences from $100.00 to $82.00 and set a buy rating for the company in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Exact Sciences has a consensus rating of Moderate Buy and an average target price of $78.14.

Exact Sciences Trading Down 2.7 %

Shares of NASDAQ EXAS opened at $65.54 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The stock has a market capitalization of $12.11 billion, a P/E ratio of -49.65 and a beta of 1.26. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The business has a fifty day moving average price of $54.89 and a 200 day moving average price of $55.44.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. During the same period last year, the company earned ($0.45) earnings per share. Exact Sciences’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts expect that Exact Sciences will post -0.87 EPS for the current fiscal year.

Institutional Trading of Exact Sciences

A number of institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in Exact Sciences during the 2nd quarter worth about $906,000. Cetera Investment Advisers lifted its holdings in shares of Exact Sciences by 52.2% in the 2nd quarter. Cetera Investment Advisers now owns 163,841 shares of the medical research company’s stock valued at $6,922,000 after purchasing an additional 56,174 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Exact Sciences in the 2nd quarter valued at about $84,000. Creative Planning lifted its holdings in shares of Exact Sciences by 17.6% in the 2nd quarter. Creative Planning now owns 33,154 shares of the medical research company’s stock valued at $1,401,000 after purchasing an additional 4,954 shares during the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of Exact Sciences in the 2nd quarter valued at about $346,000. 88.82% of the stock is owned by hedge funds and other 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.