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

Exact Sciences (NASDAQ:EXAS) had its target price trimmed by Craig Hallum from $82.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

EXAS has been the topic of a number of other research reports. Piper Sandler increased their price target on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Stifel Nicolaus dropped their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group upped their price objective on shares of Exact Sciences from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein lifted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company began coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

EXAS stock opened at $54.72 on Wednesday. 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 firm’s fifty day simple moving average is $67.14 and its 200-day simple moving average is $56.65. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a market capitalization of $10.11 billion, a P/E ratio of -57.00 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts forecast that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Institutional investors have recently made changes to their positions in the stock. 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 worth $899,528,000 after acquiring an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Exact Sciences during the second quarter worth $163,896,000. Champlain Investment Partners LLC boosted its position in shares of 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 buying an additional 1,438,010 shares during the period. Sculptor Capital LP acquired a new stake in shares of Exact Sciences in the second quarter valued at $32,819,000. Finally, Samlyn Capital LLC purchased a new position in Exact Sciences during the 2nd quarter valued at about $30,426,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.