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Fly News Breaks for February 23, 2018
EXAS
Feb 23, 2018 | 07:31 EDT
Leerink analyst Puneet Souda maintains an Outperform rating on Exact Sciences with a $67 price target following the company's Q4 results. The company's test volume guide came almost in-line with the Street and its Q1 test volumes are expected to remain flat to only slightly higher sequentially, impacted by an unusually high flu season that is still ongoing, Souda tells investors in a research note. The analyst believes the unusually high flu season is "largely transitory" and that the guidance is again conservative. Souda remains of the belief that Cologuard is highly under-penetrated in an 80M-patient opportunity. The analyst expects the stock to recover in the near-term from the post-earnings selloff.
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