EXAS Hits 52-Week High Amid Acquisition Buzz
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2024
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Source: Benzinga
Shares of Exact Sciences (EXAS.O) surged by 28% today, reaching a new 52-week high following reports of a potential acquisition by Abbott Laboratories (ABT). The stock's impressive performance reflects growing investor confidence as negotiations between the two companies progress, although delays in finalizing the deal are possible. Exact Sciences, recognized for its Cologuard colon cancer test, has also raised its 2025 revenue guidance to $3.235 billion, further bolstering its market position and attracting acquisition interest. Analysts suggest that any takeover would necessitate a valuation exceeding $100 per share, indicating a significant premium over current trading levels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
