Craig Hallum Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective decreased by Craig Hallum from $82.00 to $65.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Craig Hallum’s target price would suggest a potential upside of 22.11% from the stock’s previous close.

A number of other research firms have also recently issued reports on EXAS. Sanford C. Bernstein lifted their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Benchmark decreased their price target on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price objective on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Robert W. Baird decreased their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment 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, the company has an average rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Trading Down 2.7 %

Shares of EXAS stock opened at $53.23 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $9.84 billion, a P/E ratio of -55.45 and a beta of 1.27. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The firm has a 50-day moving average price of $66.96 and a 200 day moving average price of $56.63.

Exact Sciences (NASDAQ:EXAS) last announced 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). Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts forecast that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently modified their holdings of the business. Huntington National Bank grew its position in shares of Exact Sciences by 838.1% in 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. bought a new position in Exact Sciences in the second quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences during the third quarter worth $35,000. Vestor Capital LLC acquired a new stake in shares of Exact Sciences during the third quarter worth $46,000. Finally, V Square Quantitative Management LLC bought a new stake in Exact Sciences in the 3rd quarter valued at $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.