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

Exact Sciences (NASDAQ:EXAS) had its price objective trimmed by Citigroup from $80.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus lowered their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday. 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 report on Wednesday. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Finally, The Goldman Sachs Group reduced their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $54.72 on Wednesday. The company has a fifty day moving average of $67.14 and a 200-day moving average of $56.65. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of -57.00 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) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. 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. Equities research analysts expect that Exact Sciences will post -0.87 EPS for the current year.

Insider Activity at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.36% of the stock is owned by insiders.

Institutional Trading of Exact Sciences

A number of institutional investors have recently bought and sold shares of EXAS. Huntington National Bank boosted its stake in shares of Exact Sciences by 838.1% during the 3rd 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. bought a new stake in Exact Sciences in the second quarter worth about $29,000. Capital Performance Advisors LLP purchased a new position in shares of Exact Sciences during the third quarter valued at approximately $35,000. Vestor Capital LLC bought a new position in shares of Exact Sciences during the third quarter valued at approximately $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Exact Sciences in the third quarter worth approximately $47,000. 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.