Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

The Inexact Art Of Valuing Exact Sciences's Opportunity

In the year or so since I last looked at Exact Sciences (NASDAQ:EXAS), quite a bit has changed and most of it for the better. While top-line data from the company's pivotal study of Cologuard didn't live up to the most bullish hopes, I believe it was more than enough for approval and commercial adoption. The company has also decided to keep its tests in-house (meaning it doesn't have to share profits with testing companies) and laid out a logical marketing strategy to target the most probable high-volume users. Last and not least, the company should have a Medicare coverage decision in hand not too long after approval and in time for the commercial launch.

Even with all...

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