EXACT Sciences Corporation
Exact shares rallied yesterday on an apparent leaked JAMA article unveiling that USPSTF highly recommends colon cancer screening from age 50 to 75, but will no longer rank tests; instead, it is providing a list of acceptable ones that includes FITDNA (Cologuard).
In reaction, Canaccord analyst Mark Massaro reiterated a Buy rating on shares of EXACT Sciences (NASDAQ:EXAS) while raising the price target to $12 (from $9.00), which implies an upside of 19.5% from current levels.
Massaro wrote, “Around 10 pm ET or so on Tuesday (June 14), the USPSTF uploaded a 12-page recommendation statement that we believe bodes well for EXAS. In the document, the USPSTF removed the words “recommended” and “alternative” and reiterated that “colorectal cancer screening” is an A rating, and clearly removed any hierarchy of test modalities.”
“Our view is that this is long-awaited great news for Exact Sciences, a decision we believe will trigger commercial payor mandates, notably from United Health and Aetna, to name two. The next key controversy likely turns to at what price the large payors will pay for Cologuard.” the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Massaro has a yearly average return of -12.9% and a 36% success rate. Massaro has a -37.1% average return when recommending EXAS, and is ranked #3839 out of 3974 analysts.
Out of the 6 analysts polled by TipRanks, 4 rate Exact Sciences stock a Hold, while 2 rate the stock a Buy. With a downside potential of nearly 3%, the stock’s consensus target price stands at $10.20.
Cascadian Therapeutics Inc
In addition, Cantor analyst Mara Goldstein reiterated a Hold rating on shares of Cascadian Therapeutics Inc (NASDAQ:CASC), with a price target of $2.00, which implies an upside of 96% from current levels.
Goldstein noted, “With a name change (formerly Oncothyreon), a new CEO, and a focus on the development of small molecules for the treatment of cancer, having jettisoned the vaccine and protocell efforts, Cascadian appears to have been reborn. The focus is squarely on ONT-380, with an early-stage CHK1 inhibitor in the wings. ONT-380 data has thus far been promising, but where we struggle is in the details. ONT-380 is being studied as a third-line agent for a disease while the treatment landscape has undergone changes that could materially alter the ability to estimate for the comparator arm in late-stage trials. With an overhang of limited cash, we think the shares are likely to struggle, particularly given market conditions for early-stage biotechnology companies.”
According to TipRanks.com, analyst Mara Goldstein has a yearly average return of -11.7% and a 35% success rate. Goldstein has a average return when recommending CASC, and is ranked #3820 out of 3974 analysts.
Out of the 3 analysts polled by TipRanks (in the past 3 months), 2 rate Cascadian stock a Buy, while 1 rates the stock a Hold. With a return potential of 200%, the stock’s consensus target price stands at $3.00.