The mists are swirling inside Cathie Wood’s crystal ball, and what do they reveal as they part? Big news for cancer-fighting corporation Exact Sciences (NASDAQ:EXAS). The stock is down slightly in Thursday afternoon trading, but if Cathie Wood is right, the good times may start rolling.
She’s looking for great things out of EXAS, suggesting that, by 2027, it may reach $140 per share. Given that today it’s down under $50, that’s quite a climb, even in four years. ARK analysts elaborate, noting that Exact Sciences shares “…could compound at an annual average rate of 25%…” This would give it the necessary momentum to hit $140 by 2027. ARK also looks for Exact Sciences to gain from its brand recognition, its experience with regulators, and several other factors.
One big factor not mentioned is the market itself. Zion Market Research reports suggest that the market for global cancer biomarkers will see a compound annual growth rate (CAGR) of around 16.9% through 2028. Colorectal cancer screening, meanwhile, is looking at a CAGR of 7.5% through 2030. So for a company that fights cancer, gaining substantially from such a market isn’t out of line at all. This makes Cathie Wood’s projections all the more rational in response.
Meanwhile, Wall Street isn’t fighting the projections either. Analyst consensus calls Exact Sciences a Strong Buy. Plus, with an average price target of $58.75, that gives the stock an upside potential of 20.91%.
