Piper Sandler Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its target price decreased by Piper Sandler from $85.00 to $75.00 in a research note published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the medical research company’s stock.

Several other equities research analysts also recently issued reports on the company. Evercore ISI cut their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird cut their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup lowered their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. BTIG Research cut their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group reduced 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. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

Exact Sciences Trading Up 1.1 %

NASDAQ EXAS opened at $50.73 on Monday. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a market capitalization of $9.39 billion, a P/E ratio of -43.36 and a beta of 1.27. The firm’s 50-day moving average is $66.22 and its two-hundred day moving average is $56.30. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Exact Sciences will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Kevin T. Conroy acquired 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Institutional Trading of Exact Sciences

Large investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after buying an additional 158 shares during the period. Amalgamated Bank grew its position in shares of Exact Sciences by 2.7% during the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after acquiring an additional 284 shares during the last quarter. Midwest Professional Planners LTD. increased its holdings in shares of Exact Sciences by 12.3% in the 1st quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock valued at $213,000 after acquiring an additional 339 shares during the period. EverSource Wealth Advisors LLC raised its position in Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares during the last quarter. Finally, Huntington National Bank raised its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the last quarter. 88.82% of the stock is 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.