Canaccord Genuity Maintains Upbeat View of EXACT Sciences Corporation (EXAS) Following Analyst Day

In a research report published today, Canaccord Genuity analyst Mark Massaro weighed in with some of his opinions on EXACT Sciences Corporation (NASDAQ:EXAS) following the company’s Analyst Day. Massaro maintained a Buy rating on the stock with a price target of $32.00, which implies an upside of 8.7% from current levels.

Massaro commented, “We are positive on EXAS following the company’s Analyst Day. EXAS is building strong momentum commercializing Cologuard, as evidenced by its raising Q2 volume guidance and achieving a surprisingly strong 73% patient compliance rate (topping our 71%E). We view the Q3 volume guide of 32K tests (52% sequential growth) as solid, though basically in line with our estimate.”

Furthermore, “Our opinion on the stock trading down later yesterday afternoon was likely a combination of a “buy the rumor, sell the news” into the Analyst Day (following a strong run in recent weeks) and a relatively conservative Q3 guide, in our view. We didn’t hear anything worrisome with the business to justify fundamental weakness.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Massaro has a total average return of -2.7% and a 52.9% success rate. Massaro has a 21.6% average return when recommending EXAS, and is ranked #3227 out of 3679 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 7.6%, the stock’s consensus target price stands at $27.20.

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