As previously reported, Craig-Hallum analyst Alexander Nowak downgraded Bio-Techne to Hold from Buy after assuming coverage of the stock. The analyst believes the Exosome Diagnostics acquisition is outside the company's core competency and that the team is under-estimating the challenges of running a clinical diagnostic lab. Accordingly, he believes Exosome will be more dilutive for a longer period than originally anticipated and will hurt operating margins over the coming years. Nowak also lowered his price target on the shares to $154 from $215.