Evercore ISI Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $60.00

Exact Sciences (NASDAQ:EXAS) had its price target cut by Evercore ISI from $80.00 to $60.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other equities analysts have also recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Exact Sciences from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein lifted their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Benchmark dropped their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Craig Hallum decreased their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Stock Performance

Exact Sciences stock opened at $54.72 on Wednesday. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The stock has a market capitalization of $10.11 billion, a PE ratio of -57.00 and a beta of 1.27. The firm has a 50 day simple moving average of $67.14 and a 200-day simple moving average of $56.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

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

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were 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 directly owns 12,758 shares of the company’s stock, valued at $893,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EXAS. Chicago Partners Investment Group LLC boosted its stake in shares of Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after buying an additional 158 shares during the period. Daiwa Securities Group Inc. boosted its position in 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 valued at $825,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank boosted its position in Exact Sciences by 2.7% during the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 284 shares during the last quarter. Midwest Professional Planners LTD. grew its stake in Exact Sciences by 12.3% in the first quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock valued at $213,000 after purchasing an additional 339 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds 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.