On Nov 06, major Wall Street analysts update their ratings for $Exact Sciences (EXAS.US)$, with price targets ranging from $75 to $85.
BofA Securities analyst Michael Ryskin maintains with a buy rating, and adjusts the target price from $88 to $75.
Citi analyst Patrick B Donnelly maintains with a buy rating, and adjusts the target price from $80 to $75.
TD Cowen analyst Daniel Brennan maintains with a buy rating, and adjusts the target price from $80 to $82.
Piper Sandler analyst David Westenberg maintains with a buy rating, and maintains the target price at $85.
CCORF analyst Kyle Mikson CFA maintains with a buy rating, and adjusts the target price from $95 to $75.
Furthermore, according to the comprehensive report, the opinions of $Exact Sciences (EXAS.US)$'s main analysts recently are as follows:
Exact Sciences' Q3 results did not meet expectations, and its FY24 guidance was reduced due to unsatisfactory performance coupled with multiple challenges anticipated in Q4. Following the guidance reduction, the company's stock experienced a 30% decline in after-market trading. This decline is thought to be more indicative of market positioning and growth concerns. Despite these challenges, there is a belief that Exact Sciences can bounce back from the recent downturn.
The company's challenges are seen as short-lived, despite the recognition of the recent 'low-quality results'.
Exact Sciences has faced challenges leading to lower than expected Q3 results and a reduced outlook for Q4. These challenges include decreased demand at primary care facilities, effects from hurricanes, slower progress for new representatives, and transitional hurdles with ExactNexus. There is a growing concern regarding whether the stool-based market is experiencing a structural slow down. Moreover, there is limited clarity regarding the future performance of Cologuard and blood-based assays, positioning Exact Sciences as a company that heavily relies on trust.
Exact Sciences encountered a third-quarter revenue shortfall and a significant revision of its guidance, marking an unusual operational misstep in commercial execution. This was influenced by a deceleration in orders between early August and late October, along with hurricane-related impacts that affected up to 18% of orders, and a delayed acceleration in the productivity of newly hired sales representatives.
Exact Sciences' recent quarterly performance fell short of expectations, coupled with a significant reduction in their forecast for the next quarter. This has been attributed to challenges in commercial execution, the impact of hurricanes, and a slower increase in productivity.
Here are the latest investment ratings and price targets for $Exact Sciences (EXAS.US)$ from 5 analysts:
Note:
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