Exact Sciences (EXAS) Gains as Cologuard Gains Anthem BCBS Endorsement
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Rating Summary:
20 Buy, 9 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 16
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Exact Sciences (NASDAQ: EXAS) is sharply higher in early trade (+7%) following positive comments from Jefferies' analyst Bandon Couillard who noted that the company's cologuard scored its first major endorsement from a large commercial payor.
Couillard commented, "Anthem BCBS posted a positive medical policy bulletin supporting the use of Cologuard on a 3-yr interval. The coverage decision will enable EXAS to begin formal contract talks with Anthem on pricing & gaining in-network status. As the first major commercial payor endorsement, the move marks a key milestone for Cologuard & should inspire greater confidence in its ability to secure add'l private payor wins before the USPSTF guideline update."
The firm reiterated a Buy rating and price target of $33 on EXAS.
For an analyst ratings summary and ratings history on Exact Sciences click here. For more ratings news on Exact Sciences click here.
Shares of Exact Sciences closed at $22.43 yesterday.
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