Mizuho Securities Cuts Price Target on Exact Sciences (EXAS) to $12 Following USPSTF Cologuard Guidelines

Mizuho Securities maintained a Buy rating on Exact Sciences (NASDAQ: EXAS), and cut the price target on price target to $12.00 (from $35.00), after USPSTF Cologuard guidelines have hampered visibility and added risk. Cologuard was only listed as an alternative colorectal screening test for the average-risk population aged 50-75. Street expectations were strongly for Cologuard itself receiving an “A” recommendation, sending the shares reeling.

Analyst Eric Criscuolo commented, "We are reiterating our Buy rating but cutting our PT to $12. USPSTF guidelines for Cologuard that were much less than expected have hampered visibility and added risk. However, after slashing our valuation assumptions and pivoting to a more conservative stance, we still see upside to shares and several areas of optimism, in our view, led by Medicare coverage that is already in place."

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 $9.98 yesterday.

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