Exact Sciences (NASDAQ:EXAS) Given New $70.00 Price Target at Piper Sandler

Exact Sciences (NASDAQ:EXAS) had its target price decreased by stock analysts at Piper Sandler from $75.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s target price points to a potential upside of 43.99% from the stock’s previous close.

A number of other research firms have also commented on EXAS. Sanford C. Bernstein lifted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird reduced their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Bank of America dropped their target price on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Barclays reduced their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.94.

Exact Sciences Stock Down 3.1 %

Shares of NASDAQ EXAS traded down $1.57 during mid-day trading on Wednesday, reaching $48.62. 782,285 shares of the company traded hands, compared to its average volume of 2,287,836. The company’s fifty day moving average is $54.52 and its two-hundred day moving average is $59.95. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The stock has a market cap of $9.03 billion, a PE ratio of -8.75 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. On average, analysts expect that Exact Sciences will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Huntington National Bank grew its position in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Exact Sciences in the third quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences in the third quarter worth $35,000. Asset Planning Inc bought a new position in shares of Exact Sciences during the fourth quarter valued at $40,000. Finally, Modus Advisors LLC purchased a new position in shares of Exact Sciences in the 4th quarter worth about $43,000. 88.82% of the stock is 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.