Fintel reports that on August 2, 2023, Benchmark downgraded their outlook for Exact Sciences (NASDAQ:EXAS) from Buy to Hold.

Analyst Price Forecast Suggests 24.76% Upside

As of August 2, 2023, the average one-year price target for Exact Sciences is 106.20. The forecasts range from a low of 75.75 to a high of $136.50. The average price target represents an increase of 24.76% from its latest reported closing price of 85.13.

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The projected annual revenue for Exact Sciences is 2,322MM, an increase of 0.93%. The projected annual non-GAAP EPS is -2.69.

What is the Fund Sentiment?

There are 1146 funds or institutions reporting positions in Exact Sciences. This is an increase of 77 owner(s) or 7.20% in the last quarter. Average portfolio weight of all funds dedicated to EXAS is 0.30%, an increase of 20.19%. Total shares owned by institutions increased in the last three months by 1.03% to 202,225K shares. The put/call ratio of EXAS is 0.65, indicating a bullish outlook.

What are Other Shareholders Doing?

Jpmorgan Chase holds 13,951K shares representing 7.73% ownership of the company. In it’s prior filing, the firm reported owning 7,750K shares, representing an increase of 44.45%. The firm increased its portfolio allocation in EXAS by 127.84% over the last quarter.

Wellington Management Group Llp holds 10,837K shares representing 6.00% ownership of the company. In it’s prior filing, the firm reported owning 10,252K shares, representing an increase of 5.40%. The firm increased its portfolio allocation in EXAS by 43.09% over the last quarter.

ARK Investment Management holds 7,155K shares representing 3.96% ownership of the company. In it’s prior filing, the firm reported owning 11,379K shares, representing a decrease of 59.04%. The firm decreased its portfolio allocation in EXAS by 16.12% over the last quarter.

Capital World Investors holds 6,625K shares representing 3.67% ownership of the company. In it’s prior filing, the firm reported owning 5,191K shares, representing an increase of 21.64%. The firm increased its portfolio allocation in EXAS by 69.47% over the last quarter.

ARKK – ARK Innovation ETF holds 5,983K shares representing 3.32% ownership of the company. In it’s prior filing, the firm reported owning 8,818K shares, representing a decrease of 47.38%. The firm decreased its portfolio allocation in EXAS by 26.50% over the last quarter.

Exact Sciences Background Information
(This description is provided by the company.)

A leading provider of cancer screening and diagnostic tests, Exact Sciences relentlessly pursues smarter solutions providing the clarity to take life-changing action, earlier. Building on the success of Cologuard and Oncotype DX, Exact Sciences is investing in its product pipeline to take on some of the deadliest cancers and improve patient care. Exact Sciences unites visionary collaborators to help advance the fight against cancer.

This article originally appeared on Fintel

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