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Fly News Breaks for February 22, 2019
EXAS
Feb 22, 2019 | 08:46 EDT
Craig-Hallum analyst Per Ostlund maintained a Buy rating on Exact Sciences (EXAS) and raised his price target to $95 from $77 after the company reported Q4 results in-line with its early January pre-release. In a research note to investors, Ostlund says he believes the company carries strong momentum on Cologuard into 2019 driven by the Pfizer (PFE) co-promotion agreement, expanded sales force, greater market access and expanded TV campaign. While the estimated loss widens on higher opex, the analyst sees the investments driving continued strong top line growth and adds that a Cologuard label expansion into the 45-49 age group, a 20M/$4B increase in TAM, is seen as a 1H20 development.
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