The information presented reflects the views and assumptions of the authors at the time of publication. Please note that this research is at least one year old and the authors' current views may materially differ from those presented without notice. The results will not be updated as ARK's internal models change, or any information upon which ARK relies upon changes.
This repository contains a five-year valuation model for Exact Sciences (EXAS) and an associated ReadMe file with relevant disclosures.
This work is licensed under a Creative Commons Attribution-Non-Commercial 4.0 International License.
You may not use the material for commerical purposes without first obtaining written permission. 2023, ARK Investment Management LLC. All content is original and has been researched and produced by ARK Investment Management LLC ("ARK") unless otherwise stated herein.
This valuation tool is meant to help determine the value of a single security, Exact Sciences (EXAS), over a five (5) year time horizon. The model works by allowing users to select and/or alter inputs that may affect the resulting output. This model is inherently limited by its nature, including the assumption of perfectly efficient markets. ARK has used its research to determine what it believes are reasonable ranges for input variables contained within the model. Please refer to the associated Exact Sciences whitepaper for additional information on the assumptions, methodology, and limitations of the model. The results may vary with each use of the model and over time.
https://ark-invest.com/articles/valuation-models/ark-exact-sciences-model-2027/
This model relies on historical information of the modeled security, including publicly available financial data and analysis of that data by ARK and by third-parties. Some input values were derived from scientific fact. The reader is urged to use caution when considering the forecasted performance as it is inherently subjective and reflects ARK's long term positive view of the company. There is no guarantee that any results will align with the forecasted performance. This tool generates outcomes that are hypothetical in nature.
This material is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by ARK. Nothing contained herein constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision. Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.
This material is intended only to provide observations and views of the author(s) at the time of writing, both of which are subject to change at any time without prior notice. Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on ARK's current views and assumptions and involve known and unknown risks conditions. and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Past performance is no guarantee of future results. Equities may decline in value due to both real and perceived general market, economic, and industry conditions.
ARK's statements are not an endorsement of any company or a recommendation to buy, sell, or hold any security. For a list of all purchases and sales made by ARK for client accounts during the past year that could be considered by the SEC as recommendations, please contact ARK at info@ark-invest.com. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities in this list. For full disclosures, please go to: https://ark-invest.com/terms-of-use.
While ARK’s current assessment of the subject company may be positive, please note that it may be necessary for ARK to liquidate or reduce position sizes prior to the company attaining any indicated valuation prices due to a variety of conditions including,
but not limited to, client specific guidelines, changing market conditions, investor activity, fundamental changes in the company’s business model and competitive landscape, headline risk, and government/regulatory activity.
Additionally, ARK does not have investment banking or consulting relationship with the subject company.