5 Most Promising Healthcare Stocks According to Analysts

4. Exact Sciences Corporation (NASDAQ:EXAS)

Average Analyst Price Target Upside: 44.35%

Average Analyst Price Target: $93.25

Exact Sciences Corporation (NASDAQ:EXAS) is a Wisconsin-based company that develops diagnostic tools like tests for the detection of different types of cancers.

Exact Sciences Corporation (NASDAQ:EXAS) was covered by 17 Wall Street analysts, and 15 kept a Buy rating on the stock. The average price target of $93.25 represented an upside of 44.35% at the time of writing on December 18.

According to Insider Monkey’s database, 45 hedge funds had investments in Exact Sciences Corporation (NASDAQ:EXAS)’s stock in the third quarter. The most prominent investor in the company was Catherine D. Wood’s ARK Investment Management, with 6.28 million company shares worth $428.485 million.

Artisan Partners mentioned Exact Sciences Corporation (NASDAQ:EXAS) in its third quarter 2023 investor letter. Here is what it said:

“Among our top detractors were Lattice Semiconductor, Shockwave and Exact Sciences Corporation (NASDAQ:EXAS). Exact Sciences is a leading provider of diagnostic testing and maker of the noninvasive colorectal cancer screening test Cologuard®. The stock was a top performer through the first half of the year but pulled back in Q3. The company reported strong financial results as 31% growth in screening revenues (mostly Cologuard®) drove an overall 19% revenue increase. However, screening revenues fell slightly short of elevated expectations and were not good enough to support the stock’s year-to-date outperformance. We continue to be bullish on Cologuard’s® long-term growth potential; the addressable market expanded significantly in 2021 when the United States Preventive Services Task Force lowered the recommended age for colorectal cancer screenings to 45 from 50. Our research indicates the lowered screening age expands the company’s addressable market by ~18 million unscreened individuals. We also believe meaningful long[1]term opportunities exist as the company develops additional high-value cancer tests.”