Leerink Partners analyst Puneet Souda has maintained their bullish stance on EXAS stock, giving a Buy rating yesterday.
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Puneet Souda’s rating is based on several strategic developments at Exact Sciences that are expected to enhance the company’s financial performance. The launch of Cologuard Plus, which offers improved sensitivity and specificity over the first-generation product, is anticipated to drive revenue growth. This new product is already covered by Medicare, and its reimbursement rate is higher than that of its predecessor, providing a financial boost.
Additionally, the company has streamlined its cost structure with Cologuard Plus, achieving a reduction in the cost of goods sold by simplifying the biomarker panel. This cost efficiency is expected to contribute to margin expansion. The positive reception from payors and the strategic transition plan to cover more patients under Cologuard Plus further solidify the potential for increased market penetration and revenue growth, supporting the Buy rating.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $63.00 price target.
EXAS’s price has also changed moderately for the past six months – from $68.120 to $43.290, which is a -36.45% drop .