Rodman & Renshaw is out with its report today on Exact Sciences EXAS, upgrading EXAS to Market Outperform from Market Perform.
In its report, Rodman & Renshaw writes, "We are upgrading Exact Sciences from Market Perform to Market Outperform with an 18-month Target Price of $12/sh. Exact Sciences was one of the best performing stock in the biotech sector over the last two years – rising over 200%. However, during the recent period of
market volatility the stock took a disproportionate beating. There was no fundamental reason contributing to the excess decline."
Shares of EXAS closed Friday at $6.44.
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