The investment banks cited the company's access to proprietary technology and the potential $5 billion market for Exagen's testing options as reasons for its Outperform rating.
The study said that Cologuard was an "inefficient screening option" for colorectal cancer given its cost as compared to other CRC screening methods.
Cowen and William Blair initiated coverage of Adaptive with Outperform ratings, while JP Morgan assigned an Overweight rating and a $45 price target to the firm's stock.
The investment bank gave Danaher a Neutral rating and a $148 price target on the firm's shares, while it gave Agilent an Overweight rating with an $83 price target.
The investment bank gave the liquid biopsy company a price target of $90 and said that it views Guardant as the field leader.
Canaccord said Meridian Bioscience's preannounced second quarter top-line miss and expected ongoing weakness in its MDx business were among the reasons for the downgrade.
UBS granted Agilent a Buy rating and a $92 price target, and Qiagen a Neutral rating with a $42 price target.
The company is currently conducting clinical studies to validate AlloSure's technology — which underlies its kidney transplant test — in lung transplant patients.
The firm's diagnostics and genomics group saw a 13 percent year-over-year revenue increase in the first quarter.
The investment bank said the company is strongly positioned as a leader in the transplant diagnostics market with tests that serve an unmet need.