Evercore ISI Group Lowers Price Target for Exact Sciences (EXAS) to $64

Evercore ISI Group has maintained an "Outperform" rating for Exact Sciences (EXAS) but lowered the price target from $68 to $64. This reflects the latest insights and adjustments by the analyst to the company's projected performance. The average target price for EXAS is $64.42 with a high estimate of $80 and a low estimate of $46. The average brokerage recommendation is 1.7, indicating "Outperform" status.

Evercore ISI Group has maintained its "Outperform" rating for Exact Sciences (EXAS) but has lowered its price target from $68 to $64, reflecting the latest insights and adjustments to the company's projected performance. This move comes despite the company's strong Q2 2025 earnings, which showed significant reductions in net losses and increases in revenue guidance [1].

Exact Sciences reported total revenue of $811.09 million for Q2 2025, a 16.0% increase from the same period in 2024. The Screening segment drove much of this growth, contributing $628.48 million, a 18.0% increase, while the Precision Oncology segment also showed robust performance with revenue of $182.60 million, up 9.0% year-over-year [1]. Despite the positive revenue growth, the company narrowed its net loss by 92.5% to $1.19 million, or $0.01 per share, compared to a net loss of $-15.81 million, or $0.09 per share, in Q2 2024. This represents an 88.9% improvement in EPS and a 92.5% reduction in net loss [1].

The new price target of $64.00 reflects the company's improved financial performance and operational efficiency. The price target represents approximately 2 times average calendar year 2025/2026 enterprise value to revenue, 3 times enterprise value to gross profit, and a 4.4% free cash flow yield, according to Evercore ISI [1].

However, the stock has experienced volatility in recent weeks, with a 10.67% jump on the latest trading day followed by an 8.07% drop during the subsequent full trading week. Over the month-to-date, the stock has fallen 19.39% [1]. This volatility reflects investor sentiment and market reactions to the earnings report and broader market conditions.

Despite the recent price action, Evercore ISI remains optimistic about Exact Sciences' long-term prospects. The company's strategic initiatives, such as the acquisition of Freenome's blood-based colorectal cancer screening tests and the launch of a multi-year productivity plan targeting $150 million in annual savings by 2026, indicate a focus on expanding its diagnostic offerings and improving operational efficiency [1].

References:
[1] https://www.ainvest.com/news/exact-sciences-evercore-isi-group-maintains-outperform-pt-64-2508/