RBC initiates Exact Sciences coverage with 'perform' rating on oncology screening strength
Brokerage RBC Capital Markets initiates coverage on Exact Sciences EXAS.O with "perform" rating
Brokerage sets PT at $52, representing over 12% upside to the stock's last close
"By building market awareness for Cologuard while successfully navigating the FDA approval process and payor reimbursement requirements, EXAS has established itself as a leader in the oncology Screening sector of Liquid Biopsy" - RBC Capital Markets
Brokerage adds that low switching costs and the appeal of a blood-based test may make their (company's) moat difficult to defend
Says company will need to navigate competitive pricing from new entrants in colorectal cancer screening
Twenty-three of 27 brokerages rate stock "buy" or higher, and four "hold"; with a median PT of $69.7, according to data compiled by LSEG
Stock is down over 24% YTD, including session moves; EXAS shed 24% in 2024
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