Exact Sciences (EXAS) PT Lowered at RBC Capital on 'Long Term Uncertainty'

RBC Capital analyst Conor McNamara lowered the price target on Exact Sciences (NASDAQ: EXAS) to $46.00 (from $54.00) while maintaining a Sector Perform rating.

The analyst commented: "Lowering PT on Long Term Uncertainty? A strong quarter of commercial execution led to a ~$40m revenue beat / $55m FY'25 raise (including ~$8m of license revenue); but the decision to acquire a competitive screening test following poor data on their own test makes us question Exact Science's ability to be a long-term competitor in blood-based liquid biopsy testing. As such, we are lowing our target multiple on the stock to reflect a TAM that is essentially 1/3 of what it was yesterday, resulting in a new PT of $46 (vs $54) on our updated CY'26 estimates. We remain Sector Perform."

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