Below we presented the list of 5 Best Undervalued Stocks to Buy Now. For our detailed discussion and a more comprehensive list please see 15 Best Undervalued Stocks to Buy Now.
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let’s take a look at the best undervalued stocks to buy:
5. Exact Sciences, Corporation (NASDAQ:EXAS)
No of HFs: 35
Total Value of HF Holdings: $1.11 Billion
Check out an article where RiverPark Advisors, LLC mentioned the stock in its Q3 2020 investor letter.
“Exact Sciences: EXAS shares were our next top contributor for the quarter, as management disclosed for the first time significant and compelling data for its multi-cancer liquid biopsy screening test. The test for six different cancer types from its decade-long collaboration with the Mayo Clinic showed high overall cancer detection sensitivity of 86%, with 95% specificity (only a 5% false-positive rate).
Up until management’s liquid biopsy announcement, investors had been focused solely on the company’s long-term growth prospects of its Cologuard franchise in the $18 billion annual colon cancer screening market and the company’s November 2019 acquisition of Genomic Health with its precision oncology tests and pipeline, primarily for breast cancer. The announcement highlights a third leg of growth in the emerging multi-cancer liquid biopsy market in which the company can be a major competitor.”