Roth Capital Remains Bullish On Exact Sciences On The Back Of Cologuard Commercial Launch
Roth Capital analyst Chris Lewis came out today with an update on Exact Sciences Corp (NASDAQ:EXAS), as the company is in the stage of commercialization of cologuard test, a noninvasive colon cancer screening test based on the latest advances in stool DNA science. The analyst rates the stock a Buy with a $30 price target.
Lewis wrote, “Our indications suggest Cologuard is garnering accelerating physician sign-up adoption and test volume ordering, leaving the company well-positioned to have a successful 2015 in what will be Cologuard’s first full year of commercial launch.”
“That said, we expect the company will need to continue to work through various reimbursement and revenue recognition collectibility and timing issues (private pay, Medicare Advantage collectibility, etc.) that may be a near-term drag on the stock but expect continued strong physician adoption metrics and accelerating test volumes will outweigh these uncertainties. As such, we remain bullish on EXAS and our long-term thesis remains intact.”
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing diagnostic screening products for the early detection and prevention of colorectal pre-cancer and cancer.