UBS Group Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $53.00

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 - Free Report) had its price objective lowered by UBS Group from $61.00 to $53.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the medical research company's stock.

A number of other research firms have also recently weighed in on EXAS. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Royal Bank Of Canada lowered their target price on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday. Barclays lowered their target price on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday. Mizuho initiated coverage on Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 target price on the stock. Finally, Robert W. Baird increased their target price on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $68.14.

Exact Sciences Stock Performance

Shares of EXAS stock traded down $0.08 during trading hours on Thursday, reaching $40.91. 4,501,160 shares of the company's stock were exchanged, compared to its average volume of 3,350,641. The company has a market cap of $7.75 billion, a P/E ratio of -7.53, a price-to-earnings-growth ratio of 4.74 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. The company's 50 day moving average is $51.25 and its two-hundred day moving average is $49.89. Exact Sciences has a 1 year low of $38.81 and a 1 year high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.24. The business had revenue of $811.09 million for the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%. The company's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. Equities research analysts anticipate that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the transaction, the director directly owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This trade represents a 4.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EXAS. Bank Pictet & Cie Europe AG raised its position in shares of Exact Sciences by 1.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company's stock worth $7,250,000 after buying an additional 1,547 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Exact Sciences in the 4th quarter worth $3,031,000. Aviva PLC purchased a new position in Exact Sciences in the fourth quarter valued at about $5,824,000. Cerity Partners LLC raised its position in Exact Sciences by 65.9% in the fourth quarter. Cerity Partners LLC now owns 27,090 shares of the medical research company's stock valued at $1,541,000 after purchasing an additional 10,761 shares during the period. Finally, Invesco Ltd. raised its position in Exact Sciences by 57.2% in the fourth quarter. Invesco Ltd. now owns 379,683 shares of the medical research company's stock valued at $21,334,000 after purchasing an additional 138,089 shares during the period. 88.82% of the stock is owned by hedge funds and other 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.