Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $65.00 at Barclays

Exact Sciences (NASDAQ:EXAS) had its price target dropped by equities researchers at Barclays from $70.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective would suggest a potential upside of 31.95% from the company’s previous close.

A number of other analysts have also commented on the company. BTIG Research lifted their price target on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. 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 research note on Wednesday, November 6th. Piper Sandler cut their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Citigroup cut their price objective on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group cut their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.06.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $49.26 on Thursday. The business’s 50-day moving average price is $54.91 and its 200-day moving average price is $59.99. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of -8.84 and a beta of 1.24. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 37.29%. The firm had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Equities research analysts forecast that Exact Sciences will post -0.59 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors increased its holdings in shares of Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock valued at $985,439,000 after acquiring an additional 1,696,321 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock valued at $323,669,000 after acquiring an additional 2,462,165 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Exact Sciences by 25.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock valued at $239,922,000 after acquiring an additional 876,985 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock valued at $175,165,000 after acquiring an additional 16,828 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Exact Sciences by 107.7% during the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock valued at $164,037,000 after acquiring an additional 1,513,873 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

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.