TD Cowen Has Lowered Expectations for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective cut by TD Cowen from $90.00 to $82.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. TD Cowen’s price target indicates a potential upside of 57.81% from the company’s previous close.

A number of other equities analysts have also commented on EXAS. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Robert W. Baird lowered their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday. Stifel Nicolaus decreased their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. Finally, Evercore ISI lifted their price target on shares of Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.12.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS traded down $19.55 on Wednesday, hitting $51.96. The company had a trading volume of 9,093,962 shares, compared to its average volume of 2,558,984. The company has a market cap of $9.60 billion, a PE ratio of -54.04 and a beta of 1.27. The business has a 50 day moving average of $67.27 and a 200 day moving average of $56.67. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73.

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

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the company’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 completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in Exact Sciences by 12.5% during the 1st quarter. Private Advisor Group LLC now owns 26,974 shares of the medical research company’s stock valued at $1,863,000 after purchasing an additional 2,999 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Exact Sciences by 1.7% during the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after acquiring an additional 200 shares during the last quarter. Motive Wealth Advisors bought a new stake in shares of Exact Sciences during the first quarter worth $201,000. Oppenheimer & Co. Inc. increased its holdings in Exact Sciences by 1.8% in the first quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company’s stock valued at $1,594,000 after purchasing an additional 401 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its holdings in Exact Sciences by 32.4% in the first quarter. ClariVest Asset Management LLC now owns 25,313 shares of the medical research company’s stock valued at $1,748,000 after purchasing an additional 6,192 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.