Exact Sciences (EXAS) Receives a Rating Update from a Top Analyst

By Jason Carr

Canaccord Genuity analyst Mark Massaro maintained a Buy rating on Exact Sciences (EXASResearch Report) yesterday and set a price target of $135. The company’s shares closed last Monday at $108.74.

Massaro said:

“We are buyers of EXAS following the unusual 10% weakness in shares today, which we believe were part of the overall selloff today in diagnostics (and software stocks), where much of the alpha in the overall stock market has come from; and what we believe is likely certain funds pressuring EXAS following a cost effectiveness study published last week, but got a lot more attention today on the Street. We believe this is a buy-on- weakness opportunity on shares of EXAS given a handful of deep flaws used in the study.”

According to TipRanks.com, Massaro is a top 100 analyst with an average return of 21.7% and a 63.7% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Castle Biosciences Inc.

Currently, the analyst consensus on Exact Sciences is a Strong Buy with an average price target of $132.88.

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The company has a one-year high of $123.99 and a one-year low of $53.06. Currently, Exact Sciences has an average volume of 1.46M.

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EXACT Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer. It developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.