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Investing.com - Stifel downgraded Exact Sciences (NASDAQ:EXAS) from Buy to Hold and raised its price target to $105.00 from $80.00 following Abbott’s acquisition announcement. The stock is currently trading at $101.29, just shy of the acquisition price and near its 52-week high of $101.87.
Abbott plans to acquire Exact Sciences for a total enterprise value of approximately $23 billion, representing 6.2 times Stifel’s 2026 revenue estimate of $3,643 million. This acquisition comes as Exact Sciences has delivered impressive returns, with the stock up nearly 80% over the past six months according to InvestingPro data.
The Exact Sciences board of directors unanimously recommended shareholders accept the $105 per share all-cash offer, which values the company’s equity at $21 billion.
The acquisition is expected to close in the second quarter of 2026, according to the analyst note.
Stifel indicated it expects the deal to be completed as proposed, which prompted the rating downgrade despite the higher price target that now aligns with the acquisition offer price.
In other recent news, Exact Sciences has been at the center of significant developments following Abbott Laboratories’ acquisition announcement. Abbott plans to acquire Exact Sciences in an all-cash transaction valued at approximately $21 billion, or $23 billion including net debt, with the deal expected to close by the second quarter of 2026. As a result, several analyst firms have adjusted their ratings and price targets for Exact Sciences. TD Cowen, Canaccord Genuity, and Jefferies all downgraded the stock from Buy to Hold, aligning their price targets to $105.00, which matches the proposed acquisition price. UBS maintained a Neutral rating but raised its price target to $105.00, reflecting expectations that the acquisition will proceed as planned.
Meanwhile, Quanterix Corporation has announced key leadership changes, appointing two former Thermo Fisher Scientific executives to its board of directors. Garret Hampton, Ph.D., and Alan Sachs, M.D., Ph.D., have joined the board, marking a shift aimed at supporting Quanterix ’s next growth phase. These appointments are part of a governance restructuring initiative by Quanterix.
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