Exact Sciences (NASDAQ:EXAS) PT Lowered to $70.00 at BTIG Research

Exact Sciences (NASDAQ:EXAS) had its price objective cut by BTIG Research from $80.00 to $70.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other equities research analysts also recently issued research reports about the stock. Citigroup decreased their price target on shares of Exact Sciences from $100.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Jefferies Financial Group assumed coverage on shares of Exact Sciences in a report on Monday, June 3rd. They issued a buy rating and a $75.00 price target for the company. Finally, Canaccord Genuity Group reduced their price objective on Exact Sciences from $90.00 to $85.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $87.86.

Exact Sciences Trading Down 5.0 %

Shares of EXAS stock opened at $42.25 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of -32.01 and a beta of 1.26. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $100.77. The stock’s 50-day moving average price is $50.41 and its 200-day moving average price is $60.25.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $637.52 million for the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. Equities research analysts predict that Exact Sciences will post -1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now directly owns 1,156,191 shares in the company, valued at $69,544,888.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction on Monday, April 1st. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the executive vice president now directly owns 71,787 shares of the company’s stock, valued at approximately $5,025,090. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now directly owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The disclosure for this sale can be found here. Insiders have sold a total of 3,498 shares of company stock worth $230,105 over the last quarter. Company insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of hedge funds have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC increased its position in Exact Sciences by 459.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 340 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after buying an additional 179 shares during the period. Able Wealth Management LLC bought a new position in Exact Sciences in the fourth quarter worth approximately $45,000. EverSource Wealth Advisors LLC lifted its holdings in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the period. Finally, Valley National Advisers Inc. boosted its position in Exact Sciences by 29.5% during the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after acquiring an additional 176 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other 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.