Roth Capital Reiterates Buy On Exact Sciences Ahead Of Upcoming Catalysts And Commercial Launch
Roth Capital analyst Chris Lewis was out yesterday with some bullish comments on Exact Sciences (EXAS), defining the stock’s price target at $20, and recommending buying the shares at current levels.
Lewis noted, “We come away incrementally positive on EXAS after the company provided its 2Q financial results and business update. We expect multiple catalysts for EXAS in the coming months, including FDA approval within 30-45 days and CMS reimbursement coverage and pricing likely above Street expectations. We believe EXAS is well-positioned for a successful Cologuard commercial launch later this year”.
The analyst concluded, “We remain bullish on Exact’s technology and market opportunity, and look for upcoming catalysts, including (1) FDA approval (2) Medicare reimbursement coverage and pricing announcements, and (3) Cologuard commercial launch, to drive upside in the name”.
According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Chris Lewis currently has a one-year average return of -4.3% and a 35% success rate. Lewis has a -28.2% average profit recommending EXAS, and is ranked #2897 out of 3213 analysts.