TD Cowen analyst Dan Brennan lowered the firm’s price target on Exact Sciences (EXAS) to $66 from $75 and keeps a Buy rating on the shares. The firm notes the stock traded off post close, this despite posting a strong Q2. The issue was the company’s CRC blood data was a big disappointment. But the good news is, TD Cowen points out, Exact Sciences moved aggressively, signing a deal with competitor Freenome to get access to their blood-based CRC test and pipeline, with FDA approval expected in 2026. The firm says the selloff looks overdone.
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