Exact Sciences is up slightly year-to-date, up 3.4%. EXAS has earning 1 analyst upgrade from 17 to 20 so far this year. The average of all analyst estimates is $14.38 and we continue to have a sell order in at $12.00.
EXAS missed earnings expectations, losing .22 vs the expected .18 loss. The stock did sell off on that news, but has mostly recovered. Despite the greater loss the company met their cash goals for 2012, ending with $100M in the bank. The company is gearing up and preparing for the commercialization of the ColoGuard test and has focused its 2013 priorities around this initiative.
Exact Sciences 2013 Priorities
- Launch Readiness – Focusing on Peer-reviewed publications to assist with physician adoption.
- Operational Excellence – Preparing for the FDA inspection of the manufacturing process.
- Continued Innovation – Pancreatic and Esophageal tests in the pipeline.
The company also released the results of some market research it conducted on ColoGuard. EXAS found that 96% of providers said they were likely to order the product for their patients. In addition, 92% of patients said they were likely to use the product themselves. This market research on adoption combined with the track record of efficiency and accuracy in the tests should prove to be a very successful combination for Exact Sciences.
Sentiment: Hold and remove sell order.