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Fly News Breaks for June 7, 2017
EXAS
Jun 7, 2017 | 09:18 EDT
Stephens analyst Drew Jones said he was "a bit perplexed" by the size of Exact Sciences secondary offering of 7M shares, noting that it will be raising roughly equal to the amount of money it has raised via its last two stock offerings. The size of the stock sale "doesn't suggest great confidence" in near-term lessening of its cash burn, said Jones, who keeps an Equal Weight rating and $28 price target on the stock.
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