Analyst Puneet Souda of Leerink Partners maintained a Buy rating on Exact Sciences, retaining the price target of $70.00.
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Puneet Souda has given his Buy rating due to a combination of factors that highlight the promising outlook for Exact Sciences. The company’s core Cologuard business is performing robustly, supported by a strong commercial organization and significant integration with primary care providers. This foundation not only strengthens the Cologuard brand but also provides a platform for launching new assays, such as Cancerguard. The rollout of Cologuard Plus is gaining traction, with coverage from major payors, and there is potential for substantial revenue growth from initiatives like the care gap.
Furthermore, while CRC blood is considered a secondary option, Exact Sciences’ brand strength and commercial presence are expected to drive its adoption. The company also has strategic agreements, such as with Freenome, to ensure revenue growth in this area. Additionally, the Cancerguard MCED assay is anticipated to become a significant growth driver, with a large target market and a strategic promotional push underway. These factors collectively contribute to the positive outlook and justify the Buy rating.
In another report released on August 21, Jefferies also reiterated a Buy rating on the stock with a $80.00 price target.