Exact Sciences (NASDAQ:EXAS) Given New $53.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its price target for Exact Sciences from $61.00 to $53.00, maintaining a "neutral" rating, which suggests a potential upside of 27.48% from the current stock price.
• Several analysts remain bullish, with Robert W. Baird increasing their target to $72.00 and Guggenheim setting a price objective at $60.00, while Exact Sciences has a consensus price target of $68.81.
• In terms of recent trading, Exact Sciences shares experienced a drop of $5.34, bringing them down to $41.58, with notable insider trading activity reported as well.

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its price target cut by analysts at UBS Group from $61.00 to $53.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. UBS Group's price target would indicate a potential upside of 27.48% from the stock's current price.

Several other equities research analysts also recently weighed in on EXAS. Robert W. Baird increased their price objective on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Barclays dropped their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday. Evercore ISI increased their price objective on Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Mizuho started coverage on Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exact Sciences has an average rating of "Moderate Buy" and a consensus price target of $68.81.

Exact Sciences Stock Performance

Shares of EXAS traded down $5.34 during midday trading on Thursday, reaching $41.58. 13,592,930 shares of the stock were exchanged, compared to its average volume of 2,693,340. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -7.55, a PEG ratio of 10.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38. Exact Sciences has a twelve month low of $38.81 and a twelve month high of $72.83. The business's 50-day moving average price is $52.14 and its 200 day moving average price is $50.22.

Insider Activity

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the transaction, the director owned 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EXAS. True Wealth Design LLC raised its stake in shares of Exact Sciences by 951.8% in the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company's stock valued at $31,000 after acquiring an additional 533 shares during the period. Larson Financial Group LLC boosted its position in shares of Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after buying an additional 589 shares during the period. Bessemer Group Inc. grew its stake in shares of Exact Sciences by 1,980.6% in the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company's stock valued at $34,000 after buying an additional 614 shares in the last quarter. National Pension Service raised its holdings in shares of Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock valued at $29,000 after buying an additional 292 shares during the period. Finally, SVB Wealth LLC acquired a new position in Exact Sciences during the 1st quarter worth approximately $30,000. Hedge funds and other 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.

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