BTIG Research Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $70.00

Exact Sciences (NASDAQ:EXAS) had its target price lowered by equities researchers at BTIG Research from $80.00 to $70.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. BTIG Research’s price target would indicate a potential upside of 69.20% from the company’s current price.

EXAS has been the topic of a number of other reports. Canaccord Genuity Group lowered their price objective on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Citigroup cut 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 report on Thursday, May 9th. Finally, Jefferies Financial Group began coverage on Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.23.

Exact Sciences Stock Performance

EXAS stock opened at $41.37 on Wednesday. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $100.77. The business’s 50-day moving average price is $51.55 and its two-hundred day moving average price is $60.63. The firm has a market cap of $7.63 billion, a PE ratio of -31.34 and a beta of 1.26. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

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

Insider Activity

In other news, CEO Kevin T. Conroy sold 1,155 shares of the 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 completion of the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction that occurred 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 owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sarah Condella sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the executive vice president now owns 71,787 shares of the company’s stock, valued at approximately $5,025,090. The disclosure for this sale can be found here. Insiders have sold 5,498 shares of company stock valued at $370,105 in the last ninety days. 1.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EXAS. Wolff Wiese Magana LLC grew its stake in Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the period. Able Wealth Management LLC purchased a new stake in Exact Sciences during the 4th quarter worth about $45,000. EverSource Wealth Advisors LLC increased its position in shares of Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after buying an additional 340 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Exact Sciences by 29.5% in the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after buying an additional 176 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

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.