Exact Sciences (NASDAQ:EXAS) Given New $65.00 Price Target at Barclays

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its price target dropped by Barclays from $75.00 to $65.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical research company's stock. Barclays's price target indicates a potential upside of 21.07% from the company's previous close.

Several other equities research analysts have also recently issued reports on EXAS. Royal Bank Of Canada lifted their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Mizuho started coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Robert W. Baird increased their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Evercore ISI boosted their target price on Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.40.

Exact Sciences Price Performance

EXAS traded up $1.88 during trading on Tuesday, hitting $53.69. The company's stock had a trading volume of 5,732,913 shares, compared to its average volume of 2,568,497. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of -9.74, a P/E/G ratio of 39.42 and a beta of 0.98. The business's fifty day simple moving average is $52.59 and its 200 day simple moving average is $51.57. Exact Sciences has a twelve month low of $39.97 and a twelve month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. Exact Sciences's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.60) EPS. On average, equities research analysts forecast that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the transaction, the director now directly owns 72,759 shares in the company, valued at $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after acquiring an additional 589 shares in the last quarter. National Pension Service lifted its position in shares of Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after purchasing an additional 292 shares in the last quarter. SVB Wealth LLC purchased a new position in Exact Sciences in the 1st quarter valued at approximately $30,000. Banque Cantonale Vaudoise purchased a new stake in shares of Exact Sciences during the first quarter worth $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Exact Sciences in the first quarter valued at $34,000. 88.82% of the stock is 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.