Exact Sciences: Strong Q1 Performance and Promising Prospects Justify Buy Rating

William Blair analyst Andrew Brackmann has reiterated their bullish stance on EXAS stock, giving a Buy rating today.

Andrew Brackmann has given his Buy rating due to a combination of factors including Exact Sciences’ strong first-quarter performance and promising future prospects. The company reported total revenue and adjusted EBITDA that exceeded market expectations by 3% and 21%, respectively. Additionally, management has increased the full-year guidance, reflecting the positive momentum in their screening business.
Brackmann is also optimistic about the impact of new commercial strategies implemented in December, which are already showing signs of growth. Furthermore, upcoming developments, such as the anticipated data release for their blood-based CRC screening test, contribute to a positive long-term outlook. These elements together support the Buy rating, as they suggest continued modest upside for Exact Sciences throughout the year.

In another report released today, Barclays also maintained a Buy rating on the stock with a $75.00 price target.