Robert W. Baird Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective decreased by stock analysts at Robert W. Baird from $70.00 to $67.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s target price would indicate a potential upside of 25.87% from the stock’s current price.

EXAS has been the topic of several other research reports. The Goldman Sachs Group decreased their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Wells Fargo & Company started 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. Sanford C. Bernstein boosted their target price 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 reduced their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI lifted their target price on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Price Performance

EXAS stock opened at $53.23 on Wednesday. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The firm has a 50-day moving average of $66.96 and a 200 day moving average of $56.63. 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 company has a market cap of $9.84 billion, a P/E ratio of -55.45 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. Exact Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts forecast that Exact Sciences will post -0.87 EPS for the current year.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXAS. Vanguard Group Inc. raised its holdings in shares of Exact Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after purchasing an additional 180,341 shares during the last quarter. Capital World Investors lifted its holdings in shares of Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after buying an additional 5,557,168 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Exact Sciences in the second quarter worth about $163,896,000. Champlain Investment Partners LLC grew its holdings in Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after acquiring an additional 1,438,010 shares during the period. Finally, Armistice Capital LLC raised its position in Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after acquiring an additional 669,438 shares in the last quarter. 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.