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Exact Sciences price target raised to 'Street high' $75 at Canaccord.

Canaccord analyst Mark Massaro raised his price target on Exact Sciences to $75 from $70, noting that this target is a "Street high." The analyst is assigning a higher multiple to the stock due to the rising likelihood the company will launch a test beyond Cologuard, most likely a liver cancer test, which could be a $1.5B opportunity. He believes it could launch as early as 2019. With only a 10% penetration within the top 500 health systems, the company is adding sales people and hopes to capture all of them, said Massaro, who reiterated his Buy rating on Exact Sciences shares.

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Publication:The Fly
Date:Jun 15, 2018
Words:103
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