Exact Sciences (EXAS) Receives a Buy from Canaccord Genuity


In a report released today, Mark Massaro from Canaccord Genuity maintained a Buy rating on Exact Sciences (EXAS), with a price target of $135. The company’s shares closed last Monday at $119.22, close to its 52-week high of $123.99.

Massaro observed:

“We recently had the privilege of hosting 13 management teams of leading diagnostics and precision medicine growth companies at the 39th in Boston. In this note, we recap our takeaways from the fireside chat we hosted with EXAS CFO Jeff Elliott. EXAS remains a top pick – we reiterate BUY, $135 PT. Genomic Health deal. EXAS stressed that its recent $2.8B deal to acquire Genomic Health (GHDX) positions EXAS well over the next decade, and indicated that the international sales force it will get (post deal close) would have taken EXAS 2 to 3 years to build. EXAS stressed GHDX will beef up its R&D and commercial capabilities. Additional synergies? Recall EXAS guided for GHDX to yield $25M of cost synergies by year 3.”

According to TipRanks.com, Massaro is a top 100 analyst with an average return of 21.6% and a 62.9% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Castle Biosciences Inc.

Exact Sciences has an analyst consensus of Strong Buy, with a price target consensus of $132.88.

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The company has a one-year high of $123.99 and a one-year low of $53.06. Currently, Exact Sciences has an average volume of 1.46M.

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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.

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