Craig-Hallum analyst Alex Nowak raised the firm’s price target on Exact Sciences to $106 from $85 and keeps a Buy rating on the shares after the company held its first analyst day in almost a decade. The team used the event as a discussion venue for Cologuard 2.0 top-line data, and a chance to discuss the 2.0 story of Exact Sciences. The firm comes away from the analyst day fully believing Exact is set to continue to impress from Cologuard, with 2023 guidance needing to be raised and same with 2024/2025 Street estimates. However, Craig-Hallum does still view the company’s pipeline in MRD as arriving too late to ascribe much value today, and the company’s impressive commercial infrastructure is MRD’s only wow factor currently. All-in, the firm continues to like the setup on Exact’s second half of 2023.
Published first on TheFly
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