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

Posted by on Jun 24th, 2022

StockNews.com lowered shares of Exact Sciences (NASDAQ:EXAS – Get Rating) from a hold rating to a sell rating in a research note released on Thursday morning.

Several other equities analysts also recently commented on the stock. Piper Sandler assumed coverage on shares of Exact Sciences in a report on Thursday, June 2nd. They issued a neutral rating and a $50.00 target price on the stock. The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $100.00 to $85.00 and set a buy rating on the stock in a report on Tuesday, April 19th. Raymond James lowered their target price on shares of Exact Sciences from $90.00 to $80.00 in a report on Wednesday, April 27th. SVB Leerink decreased their price target on shares of Exact Sciences from $140.00 to $130.00 and set an outperform rating on the stock in a research note on Wednesday, February 23rd. Finally, Citigroup decreased their price target on shares of Exact Sciences from $80.00 to $65.00 in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $105.85.

Shares of NASDAQ:EXAS opened at $42.24 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.53 and a quick ratio of 2.29. Exact Sciences has a 1-year low of $35.34 and a 1-year high of $133.99. The company has a market capitalization of $7.43 billion, a P/E ratio of -9.78 and a beta of 1.24. The firm’s 50 day simple moving average is $51.28 and its two-hundred day simple moving average is $66.06.

Exact Sciences (NASDAQ:EXAS – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The medical research company reported ($1.04) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $486.57 million for the quarter, compared to the consensus estimate of $461.86 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. On average, sell-side analysts anticipate that Exact Sciences will post -4.25 earnings per share for the current fiscal year.

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

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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