Exact Sciences (NASDAQ:EXAS) Given New $55.00 Price Target at Barclays

Exact Sciences (NASDAQ:EXAS - Free Report) had its price objective cut by Barclays from $65.00 to $55.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the medical research company's stock.

EXAS has been the topic of several other research reports. Mizuho assumed coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 target price on the stock. Guggenheim set a $60.00 target price on Exact Sciences and gave the company a "buy" rating in a research note on Friday, March 28th. Benchmark restated a "buy" rating and set a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Bank of America decreased their price target on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, Scotiabank raised their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.25.

Exact Sciences Price Performance

Shares of EXAS stock traded down $1.26 during trading hours on Thursday, hitting $42.99. The stock had a trading volume of 646,710 shares, compared to its average volume of 2,597,972. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of -7.72 and a beta of 1.14. Exact Sciences has a one year low of $39.97 and a one year high of $72.83. The stock's 50-day moving average price is $46.72 and its two-hundred day moving average price is $55.57.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The business had revenue of $713.42 million for the quarter, compared to analysts' expectations of $701.45 million. Equities analysts forecast that Exact Sciences will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock worth $323,669,000 after buying an additional 2,462,165 shares during the last quarter. Capital World Investors grew its holdings in shares of Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after purchasing an additional 1,696,321 shares during the period. Mackenzie Financial Corp increased its position in Exact Sciences by 107.7% during the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock worth $164,037,000 after purchasing an additional 1,513,873 shares during the last quarter. Norges Bank purchased a new position in Exact Sciences during the fourth quarter worth about $50,625,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Exact Sciences by 25.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock valued at $239,922,000 after purchasing an additional 876,985 shares during the last quarter. 88.82% of the stock is currently 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.