Michael Ryskin, an analyst from Bank of America Securities, reiterated the Buy rating on Exact Sciences (EXAS – Research Report). The associated price target was lowered to $65.00.
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Michael Ryskin’s rating is based on Exact Sciences’ promising financial outlook and strategic developments. Despite a slightly lower-than-expected EBITDA forecast for 2025, the company’s revenue projections align well with market expectations, reflecting a solid growth trajectory. This growth is primarily driven by their established products, such as Cologuard, and the anticipated launch of new products, including Cologuard Plus and other innovative screening tests which are expected to enhance revenue streams.
Furthermore, the company’s commitment to reinvestment in research and development, particularly in the colorectal cancer and minimal residual disease domains, underscores its long-term strategic vision. While there are some uncertainties regarding the timeline for the blood-based colorectal cancer test, management’s meticulous approach signals a dedication to quality and accuracy. These factors, combined with improving profitability metrics and a favorable valuation, underpin Ryskin’s Buy rating on Exact Sciences’ stock.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $86.00 price target.
EXAS’s price has also changed moderately for the past six months – from $58.970 to $50.480, which is a -14.40% drop .