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 the strong growth potential of Exact Sciences. The company’s recent quarterly performance exceeded expectations, with a notable 5% revenue beat and a significant acceleration in Cologuard volume growth by approximately 20%. This positive momentum, coupled with favorable pricing dynamics for Cologuard Plus, has reinforced confidence in the company’s ability to sustain double-digit growth in the coming years.
Moreover, Exact Sciences has raised its full-year guidance for both revenue and AEBITDA, indicating a robust outlook for the future. The company’s strategic initiatives, including its pipeline projects like MRD and multi-cancer efforts, are expected to contribute significantly to its valuation over time. In the short term, the successful execution of its Cologuard franchise has bolstered investor confidence, and the current valuation appears to underestimate the company’s growth potential. Therefore, Brackmann believes that further execution on growth objectives will unlock additional value, justifying the Buy rating.
According to TipRanks, Brackmann is a 5-star analyst with an average return of 32.3% and a 68.09% success rate. Brackmann covers the Healthcare sector, focusing on stocks such as Exact Sciences, Hologic, and QuidelOrtho.
In another report released today, Barclays also maintained a Buy rating on the stock with a $77.00 price target.