NEW YORK (TheStreet) -- Shares of Exact Sciences Corp. (EXAS) are gaining 1.63% to $29.93 after Canaccord raised its 2015 earnings estimates to $1.63 from $1.55, with 2016 earnings estimates increased to $1.09 from $0.99.
Exact Sciences is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer, and has developed a non-invasive screening test called Cologuard.
Exact Sciences is building strong momentum commercializing Cologuard, as evidenced by its raising second quarter volume guidance and achieving a surprisingly strong 73% patient compliance rate, Canaccord noted.
"Longer term, we think Exact Sciences could achieve patient compliance in the mid-70s and as high as 80%," Canaccord analysts said.
Exact Sciences has a good opportunity to scale into a diversified cancer diagnostics company with multiple test offerings in 2020, Canaccord added.
The firm maintained its "buy" rating and a price target of $32 on the stock.
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."