Exact Sciences (NASDAQ:EXAS) Given New $65.00 Price Target at The Goldman Sachs Group

Exact Sciences (NASDAQ:EXAS) had its target price reduced by The Goldman Sachs Group from $75.00 to $65.00 in a report released on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the medical research company’s stock.

Several other equities analysts have also commented on EXAS. Piper Sandler raised their price objective on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Stifel Nicolaus dropped their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird reduced their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday. Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Evercore ISI raised their price target on Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $54.72 on Wednesday. The company has a market cap of $10.11 billion, a PE ratio of -57.00 and a beta of 1.27. The business has a 50 day moving average of $67.14 and a 200 day moving average of $56.65. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. 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 earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts forecast 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 company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Exact Sciences

Hedge funds have recently modified their holdings of the company. Huntington National Bank raised its position in shares of Exact Sciences by 838.1% during 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 period. Itau Unibanco Holding S.A. purchased a new stake in Exact Sciences in the 2nd quarter worth $29,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences during the third quarter valued at about $35,000. Vestor Capital LLC purchased a new position in shares of Exact Sciences in the third quarter valued at about $46,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Exact Sciences in the third quarter valued at about $47,000. 88.82% of the stock is currently owned by 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.