BUZZ-RBC initiates Exact Sciences coverage with 'perform' rating on oncology screening strength

Reuters03-13

** Brokerage RBC Capital Markets initiates coverage on Exact Sciences EXAS.O with "perform" rating

** Brokerage sets PT at $52, representing over 12% upside to the stock's last close

** "By building market awareness for Cologuard while successfully navigating the FDA approval process and payor reimbursement requirements, EXAS has established itself as a leader in the oncology Screening sector of Liquid Biopsy" - RBC Capital Markets

** Brokerage adds that low switching costs and the appeal of a blood-based test may make their (company's) moat difficult to defend

** Says company will need to navigate competitive pricing from new entrants in colorectal cancer screening

** Twenty-three of 27 brokerages rate stock "buy" or higher, and four "hold"; with a median PT of $69.7, according to data compiled by LSEG

** Stock is down over 24% YTD, including session moves; EXAS shed 24% in 2024

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))

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