Hicks scored nine points in the first half, and Howard hit a pair of free throws 5:15 into the second as the Demon Deacons (9-3) opened a 52-33 lead.
But Dwayne Wade, who finished with 22 points, converted a layup with just over four minutes left to cap a 24-5 run for the Golden Eagles (10-2), tying it at 57-57.
Senior forward Darius Songaila sank two free throws and Antwan Scott put home a dunk as Wake Forest bounced back from its loss to unranked St. John's last Saturday at Madison Square Garden.
After opening the season with 10 straight victories, Marquette dropped its second straight game, following last Saturday's defeat at Wisconsin.
Swim Week Miami Beach 2014 [PHOTOS]