Credit Suisse analyst Dan Leonard downgraded Exact Sciences to Neutral from Outperform with a price target of $70, up from $50. The Neutral rating reflects a view that the "durable value" of the company’s Cologuard test is realized in the share price while its pipeline could translate to sales more slowly than investors appreciate, the analyst tells investors in a research note. Exact’s growth should normalize and tough compares "outnumber tailwinds," contends the firm.
Published first on TheFly
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