Exact Sciences (EXAS) stock plummeted 7.25% in the pre-market trading session on Thursday, following multiple price target cuts from Wall Street analysts on concerns over the company's growth prospects.
Barclays analyst Luke Sergott lowered the firm's price target on EXAS to $65 from $70, while maintaining an Overweight rating on the stock. Sergott cited the company's Q4 results and guidance as factors behind the price target reduction. Similarly, BTIG cut its price target on the molecular diagnostics company to $65 from $75, but kept a Buy rating.
Additionally, Jefferies trimmed its price target on EXAS to $80 from $85 as part of its broader research roundup on U.S. companies. Despite the positive ratings from analysts, the price target cuts suggest a more cautious outlook on the stock's valuation and growth potential.
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