UPDATE: Wedbush Securities Downgrades Exact Sciences to Neutral on Valuation

Wedbush Securities downgraded Exact Sciences

from Outperform to Neutral Wedbush Securities commented, "Shares of EXAS are up 13% and up 53% in the last month and 12 months vs. a flat and 20% move in the S&P over the same period. It's hard for us to justify a higher valuation at this time given the risks around data, clinical adoption, FDA, and execution. Expectations appear to be high, as well and we remind investors that shares have a history of selloffs following data announcements." Exact Sciences closed at $11.60 on Thursday.