Canaccord Pounds the Table on EXACT Sciences Corporation (EXAS)
Canaccord analyst Mark Massaro was out pounding the table on EXACT Sciences Corporation (NASDAQ:EXAS) Thursday, reiterating a Buy rating and price target of $26, which implies an upside of 29% from current levels.
Massaro wrote, “We reiterate our BUY rating and $26 PT on Exact Sciences, a company we believe can help reduce colon cancer mortality over time given the benefits of Cologuard. We continue to assign an 80% probability of a positive outcome from the USPSTF (A or B rating) as we believe the benefits clearly outweigh the harms and we expect this decision any day (end of September or October).”
“EXAS recently submitted additional data to the USPSTF, a second prospective study from the Mayo Clinic, which EXAS says shows data very similar to the DeeP-C study. EXAS expects this data will be published in the next 6 months. This data is in addition to the Deep-C study and cost-effectiveness data, the latter of which has been submitted for publication,” the analyst observed.
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 -7.5% and a 36.2% success rate. Massaro has a -13.5% average return when recommending EXAS, and is ranked #3613 out of 3752 analysts.
Out of the 11 analysts polled by TipRanks, 7 rate Exact Sciences stock a Buy, 3 rate the stock a Hold and 1 recommends to Sell. With a return potential of 36%, the stock’s consensus target price stands at $27.40.