Canaccord Genuity Reiterates Upbeat View on EXACT Sciences Corporation Ahead of First Ever Analyst Day
Canaccord Genuity analyst Mark Massaro offered some commentary on EXACT Sciences Corporation (NASDAQ:EXAS) ahead of the company’s first ever Analyst Day, which will take place this coming Thursday in Madison, WI. Massaro reiterated a Buy rating on the stock, and raised the price target to $32 (from $30), which represents a potential upside of 8.1% from where the stock is currently trading.
Massaro observed, “We 1) increase our numbers modestly to bake in the effect of the new 160-person Ironwood sales force; 2) lay out a scenario analysis for the next major risk event; 3) include a recent discussion we had with an industry KOL on the Task force decision; 4) discuss the noise of blood-based competition; and 5) discuss the company’s pipeline (focused on lung cancer).”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Massaro has a total average return of -1.8% and a 50.7% success rate. Massaro has a 23.5% average return when recommending EXAS, and is ranked #3091 out of 3638 analysts.
Out of 11 analysts polled by TipRanks, 6 rate Advaxis stock a Buy, 4 rate the stock a Hold, while only 1 rates a Sell. With a downside potential of 5.22%, the stock’s consensus target price stands at $28.67.