Barclays Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $65.00

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its target price cut by analysts at Barclays from $75.00 to $65.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical research company's stock. Barclays's target price would indicate a potential upside of 24.14% from the company's previous close.

Several other research firms also recently issued reports on EXAS. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Piper Sandler decreased their price target on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Scotiabank raised their price target on Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. Royal Bank Of Canada boosted their price objective on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Finally, Evercore ISI increased their target price on Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $70.40.

Exact Sciences Stock Down 0.3%

Shares of Exact Sciences stock traded down $0.18 during trading on Tuesday, hitting $52.36. 473,143 shares of the stock traded hands, compared to its average volume of 2,563,704. The stock has a market cap of $9.88 billion, a P/E ratio of -9.50, a PEG ratio of 40.25 and a beta of 0.98. The company has a fifty day moving average price of $52.04 and a two-hundred day moving average price of $51.64. Exact Sciences has a twelve month low of $39.97 and a twelve month high of $72.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The business had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same quarter last year, the firm earned ($0.60) EPS. Exact Sciences's revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts predict that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC raised its position in shares of Exact Sciences by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company's stock valued at $215,000 after acquiring an additional 178 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in Exact Sciences by 0.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company's stock valued at $971,000 after purchasing an additional 187 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company's stock valued at $763,000 after purchasing an additional 269 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in Exact Sciences by 0.3% in the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock worth $4,367,000 after purchasing an additional 270 shares during the period. Finally, National Pension Service raised its holdings in Exact Sciences by 75.1% in 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 during the period. Institutional investors and hedge funds 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.

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