Piper Sandler Has Lowered Expectations for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective lowered by research analysts at Piper Sandler from $75.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s target price indicates a potential upside of 46.38% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI dropped their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird lowered their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Craig Hallum reduced their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.94.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $47.82 on Wednesday. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company’s 50 day moving average price is $54.17 and its two-hundred day moving average price is $59.79. The firm has a market cap of $8.88 billion, a PE ratio of -8.59 and a beta of 1.24. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Equities research analysts predict that Exact Sciences will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently modified their holdings of the company. AMF Tjanstepension AB acquired a new stake in Exact Sciences during the 3rd quarter worth about $724,000. International Assets Investment Management LLC bought a new stake in shares of Exact Sciences during the 3rd quarter valued at about $11,257,000. Ballentine Partners LLC acquired a new stake in Exact Sciences during the third quarter worth approximately $232,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Exact Sciences in the third quarter worth approximately $49,000. Finally, Forsta AP Fonden acquired a new position in Exact Sciences in the third quarter valued at approximately $2,643,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.