Jefferies Boosts Price Target On Exact Sciences (EXAS) Following Q4, FDA Trial on Track
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Price: $104.91 --0%
Rating Summary:
8 Buy, 27 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
Rating Summary:
8 Buy, 27 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
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Jefferies raised its price target on Buy-rated Exact Sciences (NASDAQ: EXAS) from $10 to $11 following Q4 results which were largely in line with expectations.
The firm comments, "Progress on the FDA clinical trial front remains on track. On ~$38M of forecasted cash utilization in 2012, EXAS remains well-capitalized to support ongoing development of its Cologuard assay. We are raising our price target to $11 (from $10) on a lower discount rate assumption attributable to demonstrated progress in clinical trial enrollment status."
Q1 EPS goes from ($0.14) to ($0.16) and FY12 from ($0.52) to ($0.68).
For an analyst ratings summary and ratings history on Exact Sciences click here. For more ratings news on Exact Sciences click here.
Shares of Exact Sciences closed at $9.19 yesterday.
The firm comments, "Progress on the FDA clinical trial front remains on track. On ~$38M of forecasted cash utilization in 2012, EXAS remains well-capitalized to support ongoing development of its Cologuard assay. We are raising our price target to $11 (from $10) on a lower discount rate assumption attributable to demonstrated progress in clinical trial enrollment status."
Q1 EPS goes from ($0.14) to ($0.16) and FY12 from ($0.52) to ($0.68).
For an analyst ratings summary and ratings history on Exact Sciences click here. For more ratings news on Exact Sciences click here.
Shares of Exact Sciences closed at $9.19 yesterday.
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