Benchmark Names Exact Sciences a ‘Best Idea’ for 2024, Upgrades to Buy

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Exact Sciences ($NASDAQ:EXAS) has been given a strong endorsement for the year 2024 by Benchmark, who has upgraded them to a “buy” rating. This new title of “best idea” for 2024 is sure to raise the stock prices for the company and boost investor confidence. Exact Sciences is a diagnostic and medical laboratory services company based in Madison, Wisconsin. It specializes in early cancer screenings and tests that provide timely and accurate results to healthcare providers. The company offers both molecular and genetic testing options for cancer detection, as well as a variety of other tests for specific conditions.

As a pioneer in the field of precision medicine, Exact Sciences has helped countless patients by providing highly accurate information in a timely fashion. As more people are seeking out early cancer screenings and preventive care, Exact Sciences is in a prime position to capitalize on the trend. With Benchmark’s upgrade to a “buy” rating, investors can be sure that Exact Sciences will be a leader in the field of exact sciences for many years to come. For those looking to invest in this company, now is an opportune time to do so.

Market Price

On Tuesday, Exact Sciences saw its stock open at $73.5 and close at $73.8, down by a mere 0.3% from its previous closing price of 74.0. Benchmark, a financial services provider, has given Exact Sciences the title of a “Best Idea” for 2024 and has upgraded its ratings to a Buy. This is a major sign of confidence in the company and its future growth potential.

The rating upgrade speaks to the overall positive sentiment investors have in Exact Sciences and its capacity to continue growing in the long run. With this news, Exact Sciences shares may be poised for further gains in the near future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Exact Sciences. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Exact Sciences. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Exact Sciences. More…

Key Ratios Snapshot

Some of the financial key ratios for Exact Sciences are shown below. More…

Analysis

GoodWhale has conducted an analysis of EXACT SCIENCES‘s fundamentals. Using our Star Chart, we found that EXACT SCIENCES is particularly strong in growth but weak in asset, dividend, and profitability. Based on these results, we have classified EXACT SCIENCES as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. From this analysis, we can deduce that investors looking for higher-risk opportunities with the potential for greater returns may be interested in investing in EXACT SCIENCES. That being said, EXACT SCIENCES has a low health score of 3/10 considering its cashflows and debt, which is indicative of the fact that it is less likely to safely ride out any crisis without the risk of bankruptcy. More…

Peers

The market for cancer diagnostics is highly competitive. Exact Sciences Corp, Inoviq Ltd, Myriad Genetics Inc, and BCAL Diagnostics Ltd are all major players in the industry. Each company has its own unique strengths and weaknesses, and the competition between them is fierce.

– Inoviq Ltd ($ASX:IIQ)

Inoviq Ltd has a market cap of 55.21M as of 2022. The company’s Return on Equity for the same year is -13.68%.

Inoviq Ltd is a technology company that focuses on developing innovative solutions for the mobile communications industry. The company’s products and services are designed to improve the efficiency and productivity of mobile operators and enterprises. Inoviq Ltd’s portfolio includes a wide range of products and services, such as mobile network optimization, mobile device management, and mobile application development.

– Myriad Genetics Inc ($NASDAQ:MYGN)

Myriad Genetics Incorporated is a biotechnology company that focuses on the development and commercialization of molecular diagnostic tests. The company’s tests are used for the early detection and risk assessment of various diseases, including cancer, cardiovascular disease, and Alzheimer’s disease. Myriad Genetics Incorporated is headquartered in Salt Lake City, Utah.

Summary

Exact Sciences is a molecular diagnostics company with a focus on early detection and screening of colorectal cancer, the second leading cause of cancer deaths in the U.S. A recent analysis by an investment firm has declared Exact Sciences a “best idea” for 2024, citing its strong market position, strong financials, and advancements in its high-sensitivity Cologuard test, a noninvasive stool DNA test for the detection of colorectal cancer. The analysis also noted that the company has robust partnerships with major healthcare systems to drive growth, and several new products have launched or are in development. As such, the investment firm has given Exact Sciences a buy rating and considers it a great investment opportunity for the long term.