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Exact Sciences Shares Rise After Company Beats Quarterly Forecasts

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$170 million and $180 million. Some industry observers are even more bullish; in a research note, analysts at Robert W. Baird & Co. project Exact’s revenues could reach $215.2 million this year. [This paragraph has been updated with information from Baird.]

The company projects that it will complete at least 470,000 Cologuard tests in 2017, including 115,000 in the second quarter. Previously, Exact projected it would complete 415,000 Cologuard tests this year. Baird projects 489,202 completed tests for the year. [This paragraph has been updated with information from Baird.]

Fielder said in an e-mail that his company has thus far captured about 1.7 percent of the potential U.S. colorectal cancer screening market. That calculation is made by dividing the total number of completed Cologuard tests completed in the past 36 months by the number of Americans in the potential market (80 million, according to Exact), with patients being screened at a three-year interval. [This paragraph has been updated with information from Exact Sciences.]

Jeff Elliott, Exact’s chief financial officer, said during the conference call that his company has “talked about getting to at least 30 percent” market share. “We’ll make the investments required to make that happen,” Elliott said. However, he added that “at this point, we’re not prepared to share … details around specific investments or amounts.” [This paragraph has been updated with information from Exact Sciences.]

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