Exact Sciences is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer that has developed a non-invasive screening test called Cologuard.
Canaccord increased yearly earnings estimates to $46 million from $44.7 million for 2015, and raised 2016 earnings estimates to $168 million from $160 million.
"We are raising our revenue estimates to reflect the contribution from the new 160-person sales force from Ironwood Pharmaceuticals, most notably beginning in the third quarter this year following the company's recent signaling that the Ironwood reps are contributing in its early activities," Canaccord analysts said.
Given a very large global screening market, the firm believes that there is opportunity for multiple winners, including Epigenomics AG (EPGNF) and privately held Applied Proteomics, with blood-based tests targeting those who reject colonoscopy and stool-based FIT, FOBT and Cologuard.
Separately, TheStreet Ratings team rates EXACT SCIENCES CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXACT SCIENCES CORP (EXAS) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and poor profit margins."