William Blair analyst Andrew Brackmann has maintained their bullish stance on EXAS stock, giving a Buy rating today.
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Andrew Brackmann has given his Buy rating due to a combination of factors that highlight Exact Sciences’ strategic positioning and future growth potential. The company recently secured exclusive rights to Freenome’s blood-based colorectal cancer screening tests, which is seen as a significant move to strengthen its leadership in the noninvasive CRC screening market. This agreement helps mitigate competition risks and addresses investor concerns about the potential impact of blood-based CRC tests on the company’s growth.
Despite a recent dip in share prices, Brackmann views this as an opportunity for investors to build or add to their positions. The company’s strong quarterly performance, with positive results across key metrics, and a productivity plan aimed at generating substantial annual savings, further support the Buy rating. The Freenome agreement not only accelerates the path to unlocking value from these tests but also positions Exact Sciences favorably for continued success in the coming years.
According to TipRanks, Brackmann is a 2-star analyst with an average return of 0.1% and a 41.67% success rate. Brackmann covers the Healthcare sector, focusing on stocks such as Exact Sciences, Qiagen, and QuidelOrtho.
In another report released today, Barclays also maintained a Buy rating on the stock with a $55.00 price target.