Scotiabank analyst Sung Ji Nam maintains $Exact Sciences (EXAS.US)$ with a buy rating, and maintains the target price at $70.
According to TipRanks data, the analyst has a success rate of 50.8% and a total average return of 0.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Exact Sciences (EXAS.US)$'s main analysts recently are as follows:
The firm's assessment of Exact Sciences was adjusted following the company's announcement of Q3 results that did not meet expectations, coupled with a reduction in FY24 forecasts due to underwhelming outcomes and various challenges anticipated in Q4. The subsequent 30% post-market decline in the stock is perceived as potentially more indicative of market sentiment (crowded long) and apprehensions regarding growth prospects, with the view that there is potential for recovery from this recent downturn.
The company's recent challenges are seen as short-lived, although the recent results have been recognized as not meeting high standards.
Exact Sciences' Q3 revenue did not meet expectations, and the company has reduced its guidance for the second half of the year due to multiple factors affecting its Cologuard product. Despite this, long-range plans for 2027 remain unchanged, and it is anticipated that growth will pick up in 2025. The current valuation is perceived as having support in the low $50 range, with the recent 30% decline in stock price being viewed as excessive.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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