Buy Rating Affirmed for Exact Sciences Amidst Strong Growth and Innovative Pipeline

Goldman Sachs analyst Matthew Sykes has reiterated their bullish stance on EXAS stock, giving a Buy rating on May 6.

Matthew Sykes has given his Buy rating due to a combination of factors surrounding Exact Sciences’ performance and future prospects. Sykes notes the company’s robust top-line growth, with Cologuard orders showing continued improvement. He acknowledges the management’s forecast of a significant second-half revenue increase in screening—which, despite being ambitious, aligns with the patterns seen in a previous year. Additionally, Sykes draws attention to the competitive edge Exact Sciences holds with its cost-effective blood test for screening, outpacing rivals in the same space.

The optimism in Sykes’s analysis stems from the strength of Exact Sciences’ relationships with health systems and the consistent performance of Cologuard. The promising product pipeline, including a colorectal cancer screening blood test, is expected to bolster the company’s market position in the long term. Sykes believes the market’s negative reaction to the stock post-earnings (-20%) doesn’t reflect the solid results and management’s positive commentary, reinforcing his Buy rating on Exact Sciences’ stock.

Sykes covers the Healthcare sector, focusing on stocks such as Bruker, Exact Sciences, and Pacific Biosciences. According to TipRanks, Sykes has an average return of -3.6% and a 45.60% success rate on recommended stocks.

In another report released on May 6, Leerink Partners also maintained a Buy rating on the stock with a $242.00 price target.

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Exact Sciences (EXAS) Company Description:

Founded in 1995, Wisconsin-based Exact Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer.