Fabrice Cabaud Scotiabank has initiated Exact Sciences ( NASDAQ: EXAS ) at sector outperform saying that "there is still plenty of runway" for the company's two main tests, Cologuard and Oncotype DX. The firm has a $70 price target (~57% upside based on Thursday's close). Analust Sung Ji Nam calls Cologuard and Oncotype DX "two of the most successful advanced diagnostics products in history," adding the company "is well positioned to layer additional pipeline products into its industry-leading infrastructure of oncology and primary care commercial channels.
" Nam wrote that given there are ~60M eligible U.S. adults who are not up-to-date on colorectal cancer screening, that represents a market of ~$10B up for grabs.
She added that shares are currently trading at a discount to others in its peer group and a premium valuation is warranted. More on Exact Sciences Exact Sciences: Still No Reason To Own Exact Sciences Corporation (EXAS) Q1 2024 Earnings Call Transcript Exact Sciences: Cancer Battle Continues, Shares Likely To Plateau Exact Sciences gains as TD Cowen sees 25% price hike for next-gen Cologuard Exact Sciences patent infringement case against Geneoscopy to proceed.
