Canaccord Genuity Group Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $75.00

Exact Sciences (NASDAQ:EXAS) had its price objective decreased by stock analysts at Canaccord Genuity Group from $95.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 40.90% from the stock’s current price.

Other research analysts have also issued reports about the company. Evercore ISI reduced their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday. Robert W. Baird decreased 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 cut their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Stifel Nicolaus decreased their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $53.23 on Wednesday. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a market capitalization of $9.84 billion, a PE ratio of -55.45 and a beta of 1.27. The stock’s fifty day moving average is $66.96 and its two-hundred day moving average is $56.63. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly 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). The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s 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 transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.36% of the stock is currently owned by company insiders.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank lifted its stake in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Exact Sciences during the 2nd quarter worth about $29,000. Capital Performance Advisors LLP purchased a new position in Exact Sciences during the 3rd quarter valued at about $35,000. Vestor Capital LLC purchased a new position in Exact Sciences during the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC acquired a new position in Exact Sciences in the 3rd quarter valued at about $47,000. 88.82% of the stock is currently 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.