Wedbush Downgrades Exact Sciences (EXAS) to Neutral Ahead of Poster

Wedbush downgraded Exact Sciences (NASDAQ: EXAS) from Outperform to Neutral with a price target of $11.00.

Shares of Exact Sciences are up 13 percent in the last month and up 53 percent in 12 months compared to the S&P, which is flat and up 20 percent over the same respective periods.

With this in mind, analyst Zarak Khurshid said "It's hard for us to justify a higher valuation at this time given the risks around data, clinical adoption, FDA, and execution."

Expectations appear to be high, added Khurshid, and he reminded investors that shares have a history of selling off following data announcements, referring to next week's poster.

For an analyst ratings summary and ratings history on Exact Sciences click here. For more ratings news on Exact Sciences click here.

Shares of Exact Sciences closed at $11.60 yesterday.

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