Leerink Partners analyst Puneet Souda has maintained their bullish stance on EXAS stock, giving a Buy rating yesterday.
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Puneet Souda has given his Buy rating due to a combination of factors including the recent Medicare coverage granted to Exact Sciences’ Oncodetect MRD assay. This coverage is expected to provide a significant revenue boost in the coming years, particularly from FY26 onwards, as the company expands its offerings beyond its established Cologuard and Oncotype DX franchises. Although the immediate financial impact in FY25 might be minimal due to market competition and a growing sales force, the long-term potential is promising.
Puneet Souda’s rating is also based on the analytical validity of Exact Sciences’ assays, which have shown competitive performance metrics in studies like Alpha-CORRECT and Beta-CORRECT. Despite the crowded market and strong competition from established players like NTRA’s Signatera, Exact Sciences’ assays have demonstrated comparable sensitivity and specificity. This positions the company well to capture market share in the solid tumor MRD space, supporting the Buy recommendation.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $68.00 price target.
EXAS’s price has also changed slightly for the past six months – from $56.680 to $55.310, which is a -2.42% drop .