After Benchmark Co. and BTIG gave Exact Sciences (NASDAQ: EXAS) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Max Masucci maintained a Buy rating on Exact Sciences today and set a price target of $145.00. The company’s shares closed last Tuesday at $118.78.
According to TipRanks.com, Masucci is a 5-star analyst with an average return of 46.0% and a 71.4% success rate. Masucci covers the Healthcare sector, focusing on stocks such as Castle Biosciences, Genetron Holdings, and Guardant Health.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exact Sciences with a $146.50 average price target, implying a 19.4% upside from current levels. In a report issued on October 27, Robert W. Baird also maintained a Buy rating on the stock with a $150.00 price target.
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Based on Exact Sciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $408 million and GAAP net loss of $220 million. In comparison, last year the company earned revenue of $219 million and had a GAAP net loss of $40.53 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXAS in relation to earlier this year.
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EXACT Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer. It developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.
