Roth Capital analyst Chris Lewis weighed in today with a few insights on Exact Sciences Corporation (NASDAQ:EXAS), after the company held its investor & analyst day on June 25. Lewis reiterated a Buy rating on the Exact stock, while raising the price target to $31 (from $28), which implies an upside of 13% from current levels.
In his research report, Lewis explained, “We reiterate our Buy rating and raise our target price to $31 to reflect the continued early commercial outperformance, our optimistic view on the upcoming USPSTF draft guidance, and increasing attractive albeit long-term pipeline opportunities.” Furthermore, “We are updating our EXAS model to reflect the better-than-expected 2Q volumes and 3Q guidance.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of 6.4% and a 62.2% success rate. Lewis has a 19.4% average return when recommending EXAS, and is ranked #810 out of 3694 analysts.
Out of the 11 analysts polled by TipRanks, 6 rate Exact Sciences Corp stock a Buy, 4 rate the stock a Hold and 1 recommends Sell. With a downside potential of 0.5%, the stock’s consensus target price stands at $27.20.