Benchmark Co. Believes Exact Sciences (NASDAQ: EXAS) Still Has Room to Grow

By Carrie Williams

Benchmark Co. analyst Raymond Myers reiterated a Buy rating on Exact Sciences (NASDAQ: EXAS) today and set a price target of $50. The company’s shares closed yesterday at $32.65, close to its 52-week high of $36.14.

According to TipRanks.com, Myers is a 3-star analyst with an average return of 5.8% and a 45.0% success rate. Myers covers the Healthcare sector, focusing on stocks such as Staar Surgical Company, Cantel Medical Corp, and Foundation Medicine.

Currently, the analyst consensus on Exact Sciences is Strong Buy and the average price target is $39.43, representing a 20.8% upside.

In a report issued on May 16, Jefferies also reiterated a Buy rating on the stock.

Based on Exact Sciences’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $48.36 million and GAAP net loss of $34.95 million. In comparison, last year the company earned revenue of $14.84 million and had a GAAP net loss of $47.47 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

EXACT Sciences Corp. is a molecular diagnostics company, which is focused on the early detection and prevention of colorectal cancer. It has an intellectual property, which protects its non invasive, molecular screening technology for the detection of colorectal cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.