Roth Capital analyst Chris Lewis remains neutral on molecular diagnostics company EXACT Sciences Corporation (NASDAQ:EXAS). Following solid second quarter earnings results, but with slight disappointment in guidance, Lewis reiterates a Hold rating, yet slightly increases his price target from $11 up to $15. Even with the upside to the price target, the analyst’s present estimate still indicates an 8% downside from where EXAS shares last closed.

EXACT’s second quarter revenues of $21.2MM outclassed Lewis’ expectation of $18.1MM as well as the Street’s estimate of $18.5MM. The outlook for third quarter anticipates revenue reaching around the benchmark of $24.7MM, and a higher outlook for fourth quarter of $31MM- although slightly below Lewis’ estimate of $32.8MM.

Though Exact’s second quarter performed well, Lewis still votes to watch EXAS stock with eyes open. Lewis believes, “While Exact’s 2Q beat improves its chances to meet the low-end of its 2016 outlook, we remain cautious on the back-end loaded guidance, particularly in the implied 25% sequential growth in 4Q given potential seasonality.”

Further, Lewis elaborates, “Particularly, we are cautious on 4Q’s implied 25% sequential volume growth given the seasonality seen in the comparable quarter in 2015, which grew only 13% sequentially off a smaller base.”

The analyst points to Exact’s recent inclusion of the U.S. Preventive Services Task Force (USPSTF) as a potentially significant catalyst long-term, as it will likely take at least a year before pay-off comes to play. Short-term, Lewis feels wary towards a likely back-end heavy upcoming second quarter needed to reach even the low-end range of guidance.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, Chris Lewis is a four-star analyst, solidly ranked #772 out of 4,087 analysts. Lewis to date has reached a success rate of 53%, averaging a positive profit of 3.9% in his annual returns.

TipRanks analytics exhibit EXAS as a Moderate Buy. Based on 10 analyst ratings in the last 3 months, 60% rate a Buy and 40% maintain a Hold. The average price target is $14.63, marking a 13% downside from where the stock is currently trading.Screen Shot 07-28-16 at 04.51 PM