Exact Sciences price target lowered to $65 from $82 at BTIG

BTIG analyst Mark Massaro lowered the firm’s price target on Exact Sciences (EXAS) to $65 from $82 and keeps a Buy rating on the shares. The company delivered a Q3 revenue miss and large guide-down, which was a “rare” operational lapse of commercial execution amid a slowdown of orders from early August through late October, impacts from the hurricanes of as much as 18% of orders, and a slower ramp in the new sales rep hire, the analyst tells investors in a research note.