Evercore ISI removed Exact Sciences from the firm’s “Tactical Outperform” list as the Freenome topline readout catalyst has passed. The firm says Freenome reported 78.2% sensitivity and 91.5% specificity, with 12.5% sensitivity in detected advanced adenomas and that with two blood based pivotal readouts pointing to AA sensitivity of low teens, Evercore believes the Bear thesis on cannibalization has been negated. Assuming an aEBITDA of 600-700M in FY26, a ~30x EBITDA multiple, the firm sees a pathway to ~$100. Evercore ISI has an Outperform rating and $90 price target $90 on Exact Sciences shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXAS:
- Exact Sciences’ Oncoguard Esophagus test shows efficacy in published study
- 5 Best Healthcare Stocks to Buy in March 2024, According to Analysts
- EXACT Sciences call volume above normal and directionally bullish
- Exact Sciences added to ‘Tactical Outperform’ list at Evercore ISI
- Exact Sciences says Cologuard Plus test results published in NEJM