Jefferies Financial Group Increases Exact Sciences (NASDAQ:EXAS) Price Target to $85.00

Exact Sciences (NASDAQ:EXAS) had its target price hoisted by Jefferies Financial Group from $84.00 to $85.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other research firms have also weighed in on EXAS. Evercore ISI lowered their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday. Piper Sandler upped their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Robert W. Baird lowered their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday. BTIG Research decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Stock Down 3.3 %

EXAS traded down $1.75 during trading on Wednesday, hitting $51.48. The company had a trading volume of 4,689,229 shares, compared to its average volume of 2,310,664. The business has a 50-day moving average of $66.76 and a 200-day moving average of $56.55. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.72. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were 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 directly owns 12,758 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Exact Sciences by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after buying an additional 12,349 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after purchasing an additional 10,356 shares during the period. Profund Advisors LLC increased its holdings in shares of Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after purchasing an additional 55,459 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Exact Sciences in the 2nd quarter valued at about $163,896,000. Finally, Swedbank AB acquired a new position in shares of Exact Sciences in the 1st quarter valued at about $2,719,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.