Bank of America Has Lowered Expectations for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price target dropped by equities research analysts at Bank of America from $72.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Bank of America‘s target price suggests a potential upside of 31.95% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Evercore ISI decreased their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. TD Cowen lifted their target price on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Benchmark reiterated a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. The Goldman Sachs Group decreased their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. 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 research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $72.06.

Exact Sciences Trading Down 0.5 %

Shares of Exact Sciences stock opened at $49.26 on Thursday. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of -8.84 and a beta of 1.24. The business has a fifty day simple moving average of $54.91 and a two-hundred day simple moving average of $59.99.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping 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 company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Research analysts forecast that Exact Sciences will post -0.59 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

Several institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC lifted its position 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 last quarter. Perigon Wealth Management LLC lifted its holdings in Exact Sciences by 3.2% during the 4th quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock worth $474,000 after purchasing an additional 264 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Exact Sciences by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock worth $763,000 after purchasing an additional 269 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Exact Sciences by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock worth $812,000 after purchasing an additional 300 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 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.