TD Cowen Boosts Exact Sciences (NASDAQ:EXAS) Price Target to $86.00

Exact Sciences (NASDAQ:EXAS) had its price objective raised by research analysts at TD Cowen from $82.00 to $86.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. TD Cowen’s target price would indicate a potential upside of 39.41% from the company’s previous close.

Several other equities research analysts have also recently commented on EXAS. BTIG Research increased their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird lowered their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Craig Hallum lowered their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Benchmark lowered their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group lowered their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.29.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $61.69 on Tuesday. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The company has a market cap of $11.42 billion, a PE ratio of -51.73 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The business has a 50-day simple moving average of $64.35 and a 200-day simple moving average of $55.89.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Exact Sciences will post -1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin T. Conroy acquired 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently bought and sold shares of EXAS. William Blair Investment Management LLC acquired a new stake in Exact Sciences during the 2nd quarter valued at approximately $163,896,000. Groupama Asset Managment acquired a new stake in Exact Sciences during the 3rd quarter valued at approximately $821,000. Sculptor Capital LP acquired a new stake in Exact Sciences during the 2nd quarter valued at approximately $32,819,000. Samlyn Capital LLC acquired a new stake in Exact Sciences during the 2nd quarter valued at approximately $30,426,000. Finally, Armistice Capital LLC grew its position in shares of Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after acquiring an additional 669,438 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.