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Fly News Breaks for July 30, 2019
EXAS, GHDX
Jul 30, 2019 | 07:21 EDT
Canaccord analyst Mark Massaro downgraded Genomic Health (GHDX) to Hold from Buy following its buyout offer from Exact Sciences for $2.8B or $72 per share. The analyst believes this will be the one and only bid, despite shares closing above the deal price. He does not expect any anti-trust concerns and expects the deal to close by the end of 2019. Massaro lowered his price target to the takeout price of $72 from $77 on Genomic Health shares.
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