Exact Sciences, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Kyle Mikson CFA from Canaccord Genuity reiterated a Buy rating on the stock and has a $75.00 price target.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight the potential of Exact Sciences’ blood-based test for colorectal cancer (CRC) screening. The upcoming data readout from the BLUE-C study is anticipated to be favorable, as Exact Sciences’ test may demonstrate higher advanced adenoma (AA) sensitivity compared to competitors like Guardant Health’s Shield test. The use of polymerase chain reaction (PCR) technology in Exact’s test is seen as a significant advantage, offering scalability and cost-effectiveness.
Additionally, expert panelists have expressed optimism about the test’s performance, suggesting that it could achieve high sensitivity levels for both CRC and AA detection. The market is considered large enough to accommodate both Exact Sciences and its competitors, but Exact’s innovative multi-marker approach and novel biomarker class are expected to position it well for success. These factors, combined with the potential for a positive market reaction post-readout, underpin the Buy rating for Exact Sciences’ stock.
According to TipRanks, Mikson CFA is an analyst with an average return of -12.2% and a 28.82% success rate. Mikson CFA covers the Healthcare sector, focusing on stocks such as Illumina, Exact Sciences, and Akoya Biosciences.
In another report released on July 10, Wells Fargo also maintained a Buy rating on the stock with a $68.00 price target.