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Exact Sciences’ Promising Growth Prospects and Strategic Advancements Support Buy Rating

Exact Sciences’ Promising Growth Prospects and Strategic Advancements Support Buy Rating

In a report released today, Michael Ryskin from Bank of America Securities maintained a Buy rating on Exact Sciences (EXASResearch Report), with a price target of $70.00.

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Michael Ryskin’s rating is based on several promising aspects of Exact Sciences’ current and future performance. The company’s management expressed confidence in their near-term growth prospects, suggesting potential upside to their 2025 guidance. This optimism is partly driven by the successful launch of Cologuard Plus (CG+), which has received a positive response from healthcare providers and is expected to fully replace the older Cologuard test within the next 24 months. The transition to CG+ is anticipated to benefit from a higher Medicare reimbursement rate, although commercial reimbursement is still in the early stages.
Another factor contributing to the Buy rating is the strength of Exact Sciences’ commercial operations, particularly their focus on rescreening, which is projected to account for half of their future total volume. The company has demonstrated strong financial performance, with management highlighting a 60% profit growth during a year of investment. Additionally, the potential development of a competitive blood test, CG Blood, offers another avenue for growth, although it is positioned as a secondary option to traditional testing methods. These factors, combined with a price objective of $70.00 USD, support the Buy rating.

Ryskin covers the Healthcare sector, focusing on stocks such as Illumina, Thermo Fisher, and Agilent. According to TipRanks, Ryskin has an average return of 0.2% and a 45.02% success rate on recommended stocks.

In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $70.00 price target.

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