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Investing.com - TD Cowen has reduced its price target on Exact Sciences (NASDAQ:EXAS) to $66.00 from $75.00 while maintaining a Buy rating on the stock. Currently trading at $41.82, the stock sits well below analyst targets ranging from $46 to $90, according to InvestingPro data.
The price target adjustment comes despite Exact Sciences reporting strong second-quarter results, which TD Cowen described as the "best Cologuard quarter in a while," featuring significant margin beats and raised guidance. The company maintains a healthy 69% gross profit margin and has demonstrated solid 12.6% revenue growth over the last twelve months.
The approximately 20% post-market decline in Exact Sciences shares was attributed to disappointing colorectal cancer (CRC) blood test data, which overshadowed the otherwise positive quarterly performance.
In response to the blood test setback, Exact Sciences has signed a deal with competitor Freenome to gain access to their blood-based CRC test and pipeline, with FDA approval anticipated in 2026.
TD Cowen indicated that the sell-off in Exact Sciences stock appears "overdone" given the company’s strong quarterly performance and proactive steps to address the blood test challenges.
In other recent news, Exact Sciences Corporation reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company posted an earnings per share (EPS) of -$0.01, which was significantly better than the forecasted -$0.13, resulting in a 92.31% EPS surprise. Revenue also exceeded projections, reaching $811.1 million compared to the expected $773.8 million, marking a 4.82% surprise. Piper Sandler has reiterated its Overweight rating on Exact Sciences, maintaining a price target of $70.00. The firm highlighted Exact Sciences’ strong position in colorectal cancer screening, noting a shift toward noninvasive detection methods in the market. These recent developments underscore Exact Sciences’ positive financial performance and its continued influence in the medical diagnostics field.
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