Exact Sciences risk/reward positive, says Canaccord Canaccord said the scenario analysis of upcoming catalysts suggests positive risk/reward for the shares of Exact Sciences. The firm cited its potential for reimbursement approvals form both the CMS and commercial payers. Shares of Exact Sciences remain Buy rated with a $21 price target.
Exact Sciences CMS approval expected by early September, says Canaccord Canaccord met with Exact Sciences management and came away confident in the CMS' preliminary reimbursement amount, which the firm expects by early September. Canaccord also noted checks into the company's call center indicated strong interest in Cologuard and it expects targeted digital advertising to raise awareness of its product. The firm raised its price target on the stock to $21 from $20 and keeps its Buy rating on the shares.
FDA announces approval of Exact Sciences colorectal screening test The FDA said it approved Cologuard, the first stool-based colorectal screening test that detects the presence of red blood cells and DNA mutations that may indicate the presence of certain kinds of abnormal growths that may be cancers such as colon cancer or precursors to cancer. The FDA added that the Centers for Medicare & Medicaid Services proposes to cover the Cologuard test once every three years for Medicare beneficiaries who meet certain criteria. Cologuard is manufactured by Exact Sciences. Reference Link