Exact Sciences (NASDAQ:EXAS) Cut to Sell at StockNews.com

Exact Sciences (NASDAQ:EXASGet Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities research analysts have also recently commented on EXAS. SVB Leerink lowered their price target on shares of Exact Sciences from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, February 23rd. The Goldman Sachs Group cut their price target on Exact Sciences from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, April 19th. Piper Sandler initiated coverage on Exact Sciences in a research note on Thursday, June 2nd. They issued a “neutral” rating and a $50.00 price objective on the stock. Craig Hallum lowered their price target on shares of Exact Sciences from $100.00 to $81.00 in a research report on Wednesday, April 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Exact Sciences from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $105.85.

NASDAQ:EXAS traded up $2.75 during trading on Thursday, reaching $42.24. The company’s stock had a trading volume of 1,888,272 shares, compared to its average volume of 2,154,672. Exact Sciences has a 12 month low of $35.34 and a 12 month high of $133.99. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -9.78 and a beta of 1.24. The firm has a 50 day moving average of $51.28 and a 200-day moving average of $66.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.29 and a current ratio of 2.53.

Exact Sciences (NASDAQ:EXASGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The medical research company reported ($1.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.08. Exact Sciences had a negative net margin of 40.26% and a negative return on equity of 21.82%. The company had revenue of $486.57 million for the quarter, compared to the consensus estimate of $461.86 million. During the same period in the previous year, the firm earned ($0.18) EPS. Equities research analysts forecast that Exact Sciences will post -4.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in EXAS. Newbridge Financial Services Group Inc. bought a new position in shares of Exact Sciences in the 4th quarter worth $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in Exact Sciences in the fourth quarter valued at $37,000. FSB Premier Wealth Management Inc. purchased a new stake in Exact Sciences during the fourth quarter valued at about $36,000. Masso Torrence Wealth Management Inc. bought a new stake in Exact Sciences during the fourth quarter worth about $37,000. Finally, HM Payson & Co. boosted its holdings in shares of Exact Sciences by 118.6% in the 4th quarter. HM Payson & Co. now owns 481 shares of the medical research company’s stock worth $37,000 after purchasing an additional 261 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Company Profile (Get Rating)

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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Analyst Recommendations for Exact Sciences (NASDAQ:EXAS)

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