Exact Sciences (NASDAQ:EXAS) PT Lowered to $67.00 at Cowen

Exact Sciences (NASDAQ:EXASGet Rating) had its price target cut by Cowen from $83.00 to $67.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other equities analysts also recently issued reports on the company. The Goldman Sachs Group cut their target price on Exact Sciences from $100.00 to $85.00 and set a buy rating on the stock in a research report on Tuesday, April 19th. Cowen cut their target price on Exact Sciences from $83.00 to $67.00 and set an outperform rating on the stock in a research report on Wednesday. StockNews.com raised Exact Sciences from a sell rating to a hold rating in a research report on Tuesday, July 26th. Piper Sandler assumed coverage on Exact Sciences in a research report on Thursday, June 2nd. They issued a neutral rating and a $50.00 target price on the stock. Finally, Robert W. Baird lowered their price target on shares of Exact Sciences from $100.00 to $90.00 in a report on Wednesday, April 27th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $73.09.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $47.05 on Wednesday. The business’s fifty day simple moving average is $44.58 and its 200-day simple moving average is $59.00. The company has a market cap of $8.28 billion, a PE ratio of -11.12 and a beta of 1.32. The company has a current ratio of 2.48, a quick ratio of 2.29 and a debt-to-equity ratio of 0.70. Exact Sciences has a 12-month low of $35.34 and a 12-month high of $108.99.

Insider Transactions at Exact Sciences

In other news, Director Katherine S. Zanotti sold 4,608 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $45.14, for a total transaction of $208,005.12. Following the sale, the director now directly owns 60,318 shares of the company’s stock, valued at approximately $2,722,754.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Katherine S. Zanotti sold 1,086 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $40.13, for a total value of $43,581.18. Following the transaction, the director now directly owns 60,318 shares of the company’s stock, valued at approximately $2,420,561.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Katherine S. Zanotti sold 4,608 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $45.14, for a total transaction of $208,005.12. Following the completion of the transaction, the director now directly owns 60,318 shares in the company, valued at $2,722,754.52. The disclosure for this sale can be found here. Insiders have sold a total of 5,701 shares of company stock valued at $251,872 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its stake in Exact Sciences by 44.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 667 shares of the medical research company’s stock valued at $26,000 after buying an additional 205 shares in the last quarter. Ellevest Inc. lifted its stake in Exact Sciences by 103.6% in the 2nd quarter. Ellevest Inc. now owns 682 shares of the medical research company’s stock valued at $27,000 after buying an additional 347 shares in the last quarter. FSB Premier Wealth Management Inc. purchased a new position in Exact Sciences in the 4th quarter valued at about $36,000. Masso Torrence Wealth Management Inc. purchased a new position in Exact Sciences in the 4th quarter valued at about $37,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Exact Sciences in the 4th quarter valued at about $37,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

About Exact Sciences

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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, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

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