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Fly News Breaks for July 18, 2018
EXAS
Jul 18, 2018 | 08:08 EDT
Leerink analyst Puneet Souda raised his price for Exact Sciences to $76 from $67, while reiterating an Outperform rating on the shares, as he believes Cologuard is highly under-penetrated in a 100M-patient strong population where the company could deliver 40%-plus penetration or $6B-plus in revenue longer term, from just 3% penetration or about $308M in TTM sales. The analyst's recent analysis utilizing Leerink Healthcare Advanced Analytics suggests that the hiring of 100 external representatives remains on track and should complete by mid-August, slightly earlier than the Q3 timeline highlighted by the company.
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