Stifel lowered the firm’s price target on Exact Sciences (EXAS) to $67 from $82 and keeps a Buy rating on the shares. Below-consensus Q3 results and a reduced Q4 outlook stem from multiple issues – lower demand at primary care offices, impact of hurricanes, a slower ramp-up for new reps, and transitional challenges on ExactNexus – and while some of this is rooted in execution or lack thereof, the “big question that will emerge is the extent to which the stool-based market is structurally slowing,” the analyst tells investors. However, the low level of visibility tied to the two critical issues of the Cologuard trajectory and performance of blood-based assays makes Exact the biggest “just gotta trust them” stock in the group, the analyst added.
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Read More on EXAS:
- Exact Sciences price target lowered to $65 from $82 at BTIG
- Exact Sciences price target lowered to $82 from $90 at TD Cowen
- Exact Sciences price target lowered to $67 from $70 at Baird
- Exact Sciences price target lowered to $75 from $88 at BofA
- Exact Sciences price target lowered to $75 from $80 at Citi
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