09:05 AM EDT, 05/09/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target to $65 from $73 based on our DCF model. We widen our 2024 LPS estimate to $0.78 from $0.73 and raise our 2025 EPS view to $0.29 from $0.20. EXAS reported Q1 LPS of $0.54 vs. $0.35, missing expectations, $0.31 above the consensus estimate and $0.28 above our forecast due to margin compression, which EXAS expects to improve gradually driven by lab automation. Q1 sales, up 6% Y/Y, were slightly above expectations, $8M above our forecast and $11M above the consensus. Screening revenue of $475M was up 7% Y/Y, despite difficult comparisons vs. a very strong Q1 2023. Precision Oncology sales of $163M, up 5% Y/Y or 4% Q/Q, were slightly higher than expected with the breast cancer screening test Oncotype DX sales leading the growth, up 7% globally. EXAS reiterated its sales 2024 guidance in the range of 12%-14% Y/Y growth, with the bulk of the growth expected to come from screening sales (+$300M). We now pencil in for total revenues of $2.84B vs. $2.82B earlier, which points to 13.8% Y/Y growth.