Intrinsic value of EXACT Sciences - EXAS

Previous Close

$37.87

  Intrinsic Value

$0.78

stock screener

  Rating & Target

str. sell

-98%

  Value-price divergence*

-477%

Previous close

$37.87

 
Intrinsic value

$0.78

 
Up/down potential

-98%

 
Rating

str. sell

 
Value-price divergence*

-477%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of EXAS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  153.85
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  99
  158
  245
  366
  531
  749
  1,030
  1,383
  1,815
  2,336
  2,950
  3,664
  4,479
  5,399
  6,424
  7,553
  8,786
  10,121
  11,556
  13,087
  14,714
  16,434
  18,244
  20,145
  22,134
  24,212
  26,378
  28,635
  30,982
  33,423
  35,960
Variable operating expenses, $m
 
  182
  282
  422
  612
  863
  1,187
  1,593
  2,091
  2,691
  3,399
  4,221
  5,160
  6,220
  7,400
  8,702
  10,122
  11,660
  13,312
  15,077
  16,951
  18,932
  21,018
  23,207
  25,498
  27,892
  30,388
  32,987
  35,692
  38,504
  41,426
Fixed operating expenses, $m
 
  162
  166
  170
  174
  179
  183
  188
  193
  197
  202
  207
  212
  218
  223
  229
  235
  240
  246
  253
  259
  265
  272
  279
  286
  293
  300
  308
  315
  323
  331
Total operating expenses, $m
  268
  344
  448
  592
  786
  1,042
  1,370
  1,781
  2,284
  2,888
  3,601
  4,428
  5,372
  6,438
  7,623
  8,931
  10,357
  11,900
  13,558
  15,330
  17,210
  19,197
  21,290
  23,486
  25,784
  28,185
  30,688
  33,295
  36,007
  38,827
  41,757
Operating income, $m
  -169
  -186
  -203
  -226
  -255
  -293
  -340
  -398
  -468
  -552
  -651
  -764
  -893
  -1,038
  -1,200
  -1,377
  -1,570
  -1,779
  -2,003
  -2,242
  -2,495
  -2,763
  -3,045
  -3,341
  -3,650
  -3,973
  -4,310
  -4,660
  -5,025
  -5,404
  -5,797
EBITDA, $m
  -158
  -180
  -194
  -212
  -236
  -265
  -302
  -348
  -402
  -467
  -543
  -631
  -730
  -842
  -966
  -1,102
  -1,250
  -1,410
  -1,582
  -1,765
  -1,960
  -2,165
  -2,381
  -2,608
  -2,844
  -3,092
  -3,350
  -3,618
  -3,897
  -4,187
  -4,488
Interest expense (income), $m
  0
  0
  1
  2
  4
  7
  10
  14
  19
  26
  33
  42
  53
  65
  79
  94
  111
  129
  149
  170
  193
  217
  243
  269
  298
  327
  358
  390
  424
  458
  495
Earnings before tax, $m
  -167
  -186
  -204
  -228
  -259
  -299
  -350
  -412
  -488
  -578
  -684
  -807
  -946
  -1,104
  -1,279
  -1,471
  -1,681
  -1,908
  -2,152
  -2,412
  -2,688
  -2,980
  -3,288
  -3,610
  -3,948
  -4,300
  -4,668
  -5,050
  -5,448
  -5,862
  -6,292
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -167
  -186
  -204
  -228
  -259
  -299
  -350
  -412
  -488
  -578
  -684
  -807
  -946
  -1,104
  -1,279
  -1,471
  -1,681
  -1,908
  -2,152
  -2,412
  -2,688
  -2,980
  -3,288
  -3,610
  -3,948
  -4,300
  -4,668
  -5,050
  -5,448
  -5,862
  -6,292

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  311
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  377
  106
  163
  244
  354
  499
  687
  922
  1,210
  1,557
  1,967
  2,443
  2,986
  3,599
  4,283
  5,036
  5,858
  6,748
  7,704
  8,725
  9,809
  10,956
  12,163
  13,430
  14,756
  16,141
  17,586
  19,090
  20,655
  22,282
  23,973
Adjusted assets (=assets-cash), $m
  66
  106
  163
  244
  354
  499
  687
  922
  1,210
  1,557
  1,967
  2,443
  2,986
  3,599
  4,283
  5,036
  5,858
  6,748
  7,704
  8,725
  9,809
  10,956
  12,163
  13,430
  14,756
  16,141
  17,586
  19,090
  20,655
  22,282
  23,973
Revenue / Adjusted assets
  1.500
  1.491
  1.503
  1.500
  1.500
  1.501
  1.499
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
  1.500
Average production assets, $m
  36
  58
  89
  133
  193
  273
  375
  503
  661
  850
  1,074
  1,334
  1,631
  1,965
  2,338
  2,749
  3,198
  3,684
  4,206
  4,764
  5,356
  5,982
  6,641
  7,333
  8,057
  8,813
  9,602
  10,423
  11,278
  12,166
  13,090
Working capital, $m
  303
  -13
  -20
  -30
  -43
  -61
  -83
  -112
  -147
  -189
  -239
  -297
  -363
  -437
  -520
  -612
  -712
  -820
  -936
  -1,060
  -1,192
  -1,331
  -1,478
  -1,632
  -1,793
  -1,961
  -2,137
  -2,319
  -2,510
  -2,707
  -2,913
Total debt, $m
  5
  30
  67
  118
  188
  281
  400
  549
  733
  953
  1,214
  1,516
  1,862
  2,252
  2,687
  3,166
  3,688
  4,254
  4,863
  5,512
  6,202
  6,931
  7,699
  8,504
  9,348
  10,229
  11,147
  12,104
  13,099
  14,134
  15,210
Total liabilities, $m
  42
  67
  104
  155
  225
  318
  437
  586
  770
  990
  1,251
  1,553
  1,899
  2,289
  2,724
  3,203
  3,725
  4,291
  4,900
  5,549
  6,239
  6,968
  7,736
  8,541
  9,385
  10,266
  11,184
  12,141
  13,136
  14,171
  15,247
Total equity, $m
  335
  38
  59
  89
  129
  182
  250
  335
  441
  567
  716
  889
  1,087
  1,310
  1,559
  1,833
  2,132
  2,456
  2,804
  3,176
  3,571
  3,988
  4,427
  4,888
  5,371
  5,875
  6,401
  6,949
  7,518
  8,111
  8,726
Total liabilities and equity, $m
  377
  105
  163
  244
  354
  500
  687
  921
  1,211
  1,557
  1,967
  2,442
  2,986
  3,599
  4,283
  5,036
  5,857
  6,747
  7,704
  8,725
  9,810
  10,956
  12,163
  13,429
  14,756
  16,141
  17,585
  19,090
  20,654
  22,282
  23,973
Debt-to-equity ratio
  0.015
  0.780
  1.120
  1.330
  1.460
  1.540
  1.600
  1.640
  1.660
  1.680
  1.700
  1.710
  1.710
  1.720
  1.720
  1.730
  1.730
  1.730
  1.730
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
Adjusted equity ratio
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -167
  -186
  -204
  -228
  -259
  -299
  -350
  -412
  -488
  -578
  -684
  -807
  -946
  -1,104
  -1,279
  -1,471
  -1,681
  -1,908
  -2,152
  -2,412
  -2,688
  -2,980
  -3,288
  -3,610
  -3,948
  -4,300
  -4,668
  -5,050
  -5,448
  -5,862
  -6,292
Depreciation, amort., depletion, $m
  11
  6
  9
  13
  19
  27
  37
  50
  66
  85
  107
  133
  163
  197
  234
  275
  320
  368
  421
  476
  536
  598
  664
  733
  806
  881
  960
  1,042
  1,128
  1,217
  1,309
Funds from operations, $m
  -129
  -180
  -195
  -215
  -240
  -272
  -312
  -362
  -422
  -493
  -577
  -673
  -783
  -907
  -1,045
  -1,196
  -1,361
  -1,540
  -1,731
  -1,936
  -2,153
  -2,382
  -2,624
  -2,877
  -3,142
  -3,419
  -3,708
  -4,008
  -4,321
  -4,646
  -4,983
Change in working capital, $m
  1
  -5
  -7
  -10
  -13
  -18
  -23
  -29
  -35
  -42
  -50
  -58
  -66
  -75
  -83
  -91
  -100
  -108
  -116
  -124
  -132
  -139
  -147
  -154
  -161
  -168
  -175
  -183
  -190
  -198
  -205
Cash from operations, $m
  -130
  -176
  -188
  -205
  -227
  -254
  -289
  -333
  -387
  -451
  -527
  -616
  -717
  -833
  -962
  -1,105
  -1,261
  -1,431
  -1,615
  -1,812
  -2,021
  -2,243
  -2,477
  -2,723
  -2,981
  -3,251
  -3,532
  -3,825
  -4,130
  -4,448
  -4,778
Maintenance CAPEX, $m
  0
  -4
  -6
  -9
  -13
  -19
  -27
  -37
  -50
  -66
  -85
  -107
  -133
  -163
  -197
  -234
  -275
  -320
  -368
  -421
  -476
  -536
  -598
  -664
  -733
  -806
  -881
  -960
  -1,042
  -1,128
  -1,217
New CAPEX, $m
  -15
  -22
  -31
  -44
  -60
  -79
  -102
  -128
  -158
  -189
  -224
  -260
  -297
  -335
  -373
  -411
  -449
  -486
  -522
  -558
  -592
  -626
  -659
  -692
  -724
  -756
  -789
  -821
  -855
  -888
  -923
Cash from investing activities, $m
  -12
  -26
  -37
  -53
  -73
  -98
  -129
  -165
  -208
  -255
  -309
  -367
  -430
  -498
  -570
  -645
  -724
  -806
  -890
  -979
  -1,068
  -1,162
  -1,257
  -1,356
  -1,457
  -1,562
  -1,670
  -1,781
  -1,897
  -2,016
  -2,140
Free cash flow, $m
  -142
  -201
  -226
  -258
  -300
  -353
  -419
  -499
  -594
  -706
  -836
  -983
  -1,148
  -1,330
  -1,531
  -1,750
  -1,985
  -2,237
  -2,506
  -2,790
  -3,090
  -3,404
  -3,734
  -4,079
  -4,438
  -4,813
  -5,202
  -5,607
  -6,027
  -6,464
  -6,918
Issuance/(repayment) of debt, $m
  0
  25
  37
  51
  70
  93
  119
  149
  184
  221
  261
  302
  346
  390
  435
  479
  523
  566
  608
  649
  690
  729
  768
  806
  843
  881
  919
  957
  995
  1,035
  1,076
Issuance/(repurchase) of shares, $m
  148
  201
  225
  258
  299
  352
  418
  498
  593
  704
  833
  980
  1,144
  1,327
  1,527
  1,745
  1,980
  2,232
  2,500
  2,784
  3,083
  3,398
  3,727
  4,071
  4,431
  4,805
  5,194
  5,598
  6,018
  6,454
  6,908
Cash from financing (excl. dividends), $m  
  150
  226
  262
  309
  369
  445
  537
  647
  777
  925
  1,094
  1,282
  1,490
  1,717
  1,962
  2,224
  2,503
  2,798
  3,108
  3,433
  3,773
  4,127
  4,495
  4,877
  5,274
  5,686
  6,113
  6,555
  7,013
  7,489
  7,984
Total cash flow (excl. dividends), $m
  8
  25
  36
  51
  69
  92
  118
  148
  182
  219
  258
  300
  343
  386
  430
  474
  518
  561
  603
  643
  683
  722
  761
  798
  836
  873
  910
  948
  986
  1,025
  1,066
Retained Cash Flow (-), $m
  -8
  -201
  -225
  -258
  -299
  -352
  -418
  -498
  -593
  -704
  -833
  -980
  -1,144
  -1,327
  -1,527
  -1,745
  -1,980
  -2,232
  -2,500
  -2,784
  -3,083
  -3,398
  -3,727
  -4,071
  -4,431
  -4,805
  -5,194
  -5,598
  -6,018
  -6,454
  -6,908
Prev. year cash balance distribution, $m
 
  311
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  135
  -189
  -207
  -230
  -261
  -300
  -349
  -411
  -486
  -575
  -680
  -802
  -940
  -1,097
  -1,271
  -1,462
  -1,671
  -1,897
  -2,140
  -2,400
  -2,675
  -2,967
  -3,273
  -3,595
  -3,932
  -4,283
  -4,650
  -5,032
  -5,429
  -5,842
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  130
  -173
  -180
  -189
  -202
  -218
  -236
  -257
  -279
  -301
  -323
  -342
  -358
  -368
  -373
  -372
  -364
  -349
  -330
  -305
  -277
  -246
  -215
  -183
  -153
  -125
  -100
  -78
  -59
  -44
Current shareholders' claim on cash, %
  100
  54.5
  34.3
  24.0
  17.9
  14.1
  11.4
  9.5
  8.1
  7.0
  6.1
  5.4
  4.8
  4.2
  3.8
  3.4
  3.1
  2.8
  2.5
  2.3
  2.1
  1.9
  1.8
  1.6
  1.5
  1.3
  1.2
  1.1
  1.0
  1.0
  0.9

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company develops the Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer. It has a collaboration, license, and purchase agreement with Genzyme Corporation; and license agreement with MAYO Foundation for Medical Education and Research. Exact Sciences Corporation was founded in 1995 and is headquartered in Madison, Wisconsin.

FINANCIAL RATIOS  of  EXACT Sciences (EXAS)

Valuation Ratios
P/E Ratio -25
Price to Sales 42.2
Price to Book 12.5
Price to Tangible Book
Price to Cash Flow -32.1
Price to Free Cash Flow -28.8
Growth Rates
Sales Growth Rate 153.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -31.8%
Cap. Spend. - 3 Yr. Gr. Rate 10.8%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 1.5%
Total Debt to Equity 1.5%
Interest Coverage 0
Management Effectiveness
Return On Assets -45.1%
Ret/ On Assets - 3 Yr. Avg. -45.1%
Return On Total Capital -49.6%
Ret/ On T. Cap. - 3 Yr. Avg. -48.9%
Return On Equity -50.5%
Return On Equity - 3 Yr. Avg. -49.6%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 54.5%
Gross Margin - 3 Yr. Avg. -19%
EBITDA Margin -157.6%
EBITDA Margin - 3 Yr. Avg. -1780.7%
Operating Margin -170.7%
Oper. Margin - 3 Yr. Avg. -1860.3%
Pre-Tax Margin -168.7%
Pre-Tax Margin - 3 Yr. Avg. -1857.9%
Net Profit Margin -168.7%
Net Profit Margin - 3 Yr. Avg. -1857.9%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

EXAS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EXAS stock intrinsic value calculation we used $99 million for the last fiscal year's total revenue generated by EXACT Sciences. The default revenue input number comes from 2016 income statement of EXACT Sciences. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EXAS stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for EXAS is calculated based on our internal credit rating of EXACT Sciences, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of EXACT Sciences.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EXAS stock the variable cost ratio is equal to 115.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $158 million in the base year in the intrinsic value calculation for EXAS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for EXACT Sciences.

Corporate tax rate of 27% is the nominal tax rate for EXACT Sciences. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EXAS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EXAS are equal to 36.4%.

Life of production assets of 10 years is the average useful life of capital assets used in EXACT Sciences operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EXAS is equal to -8.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $335 million for EXACT Sciences - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 107.449 million for EXACT Sciences is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of EXACT Sciences at the current share price and the inputted number of shares is $4.1 billion.

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COMPANY NEWS

▶ 3 Game-Changing Small-Cap Healthcare Stocks   [Aug-15-17 09:01PM  Motley Fool]
▶ Better Buy: Exact Sciences Corporation vs. Opko Health   [Aug-11-17 08:04AM  Motley Fool]
▶ Exact Sciences CEO Sees Steady Uptick in Cologuard Orders   [Aug-04-17 03:09PM  Bloomberg Video]
▶ Here's Why the Best Is Yet to Come for Exact Sciences   [Aug-01-17 09:00PM  Motley Fool]
▶ Exact Sciences Continues to Surprise to the Upside   [Jul-26-17 08:46PM  Motley Fool]
▶ Exact Sciences: Blowout!   [10:26AM  Barrons.com]
▶ Exact Sciences reports 2Q loss   [Jul-25-17 10:19PM  Associated Press]
▶ New Strong Buy Stocks for July 19th   [Jul-19-17 10:11AM  Zacks]
▶ New Strong Buy Stocks for July 17th   [Jul-17-17 09:15AM  Zacks]
▶ Exact Sciences: Lifting Sales Estimates   [Jul-07-17 10:53AM  Barrons.com]
▶ Why Exact Sciences Corp. Fell 7.5% In June   [Jul-06-17 09:31PM  Motley Fool]
▶ Exact Sciences Taps Markets, Bolsters Balance Sheet   [Jun-11-17 07:00AM  Motley Fool]
▶ [$$] It's Time to Lighten Up on Exact Sciences   [Jun-10-17 12:01AM  Barrons.com]
▶ Exact Sciences: Good Timing?   [12:38PM  Barrons.com]
▶ Exact Sciences Corporation: The Bear Case From a Bull   [Jun-07-17 03:43PM  Motley Fool]
▶ Exact Sciences Drops 6%; Here's Why   [12:19PM  Barrons.com]
▶ Exact Sciences stock falls after share offering   [Jun-06-17 04:11PM  MarketWatch]
▶ Exact Sciences: Cramer's Top Takeaways   [Jun-03-17 06:42AM  TheStreet.com]
▶ [$$] Exact Sciences CEO Shares Market Projections   [Jun-01-17 02:05PM  Barrons.com]
▶ Biotech And Pharma Industry And Stock News   [12:51PM  Investor's Business Daily]
▶ Exact Sciences: Heading for a Triple?   [09:58AM  Barrons.com]
▶ These Stocks Have Doubled in 2017   [May-23-17 09:55AM  Motley Fool]
▶ Is Exact Sciences on Borrowed Time?   [May-16-17 05:40PM  Motley Fool]
▶ The Market In 5 Minutes   [09:02AM  Benzinga]
▶ Exact Sciences: Nothing to See Here?   [03:09PM  Barrons.com]
▶ Exact Sciences: Signs SaySticky?   [11:16AM  Barrons.com]
▶ 3 Best Stocks in Personalized Medicine   [May-14-17 12:03PM  Motley Fool]
▶ 3 Top Stocks With Lots of Room Left to Grow   [May-11-17 08:03AM  Motley Fool]
▶ ETFs with exposure to EXACT Sciences Corp. : May 8, 2017   [May-08-17 04:30PM  Capital Cube]
▶ Why Exact Sciences is Soaring   [01:05PM  Barrons.com]
▶ Exact Sciences: $40 is the New $30   [04:22PM  Barrons.com]
Stock chart of EXAS Financial statements of EXAS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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