The investment bank gave Exact Sciences' shares a price target of $30, and said it expects higher uptake of the Cologuard test and an increase in payor contracts.
The investment bank also cited challenges for Illumina in penetrating the clinical diagnostics markets and driving physician adoption of its tests.
The investment bank noted increased traction for Invitae's test, a "massive" market opportunity, and potential clinical and payor adoption of the firm's technology.
The investment bank said the quick approval by the FDA for T2 Bio's platform and Candida test could signal high interest for the product in the medical community.
The downgrade follows Roche's proposed bid to acquire a majority stake in the company.
The US Food and Drug Administration has new guidelines that enable some gene and cell therapies to undergo expedited review, according to the New York Times.
Using gene drives to control invasive species might be too risky, an initial advocate of the approach says.
In Science this week: intellectual property experts argue patent battles such as the one over CRISPR are wasteful, and more.
Researchers have grown tumors in 3D cell cultures to better understand cancer, the Economist reports.