Exact Sciences Analysts Slash Their Forecasts After Q2 Results

Core Insights - Exact Sciences Corporation reported better-than-expected second-quarter financial results, with losses of 9 cents per share, significantly beating the analyst consensus estimate of 32 cents by 71.88% [1] - The company achieved quarterly sales of $699.264 million, surpassing the analyst consensus estimate of $690.003 million [1] - Screening revenue reached $532 million, reflecting a 15% increase, while Precision Oncology revenue was $168 million, marking a 6% increase [1] - An exclusive license agreement was announced with TwinStrand Biosciences [1] - Following the earnings announcement, Exact Sciences shares increased by 23.2%, trading at $56.27 [1] Analyst Ratings and Price Targets - Stifel analyst Daniel Arias maintained a Buy rating on Exact Sciences but reduced the price target from $100 to $82 [2] - Benchmark analyst Bruce Jackson also maintained a Buy rating while lowering the price target from $91 to $67 [2]