Jefferies Raises Price Target on Exact Sciences (EXAS) as HEDIS Includes Cologuard in Quality Measures

October 4, 2016 7:21 AM EDT
Get Alerts EXAS Hot Sheet
Price: $17.50 --0%

Rating Summary:
    10 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 10 | New: 7
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Jefferies reiterated a Buy rating on Exact Sciences (NASDAQ: EXAS), and raised the price target to $23.00 (from $20.00), after NCQA published an updated 2017 HEDIS quality measure that included Cologuard. HEDIS inclusion now provides an immediate economic incentive for payors, physicians & larger health systems to adopt Cologuard.

Analyst Brandon Couillard commented, "NCQA released 2017 HEDIS quality measures for colorectal cancer screening that now include Cologuard with a 3-yr interval. While the news was widely expected, Cologuard's formal inclusion in HEDIS creates an economic incentive for physicians to adopt (removes gating factor that has existed to-date) & marks a key milestone toward establishing the test as a standard of care. We are hiking our PT to $23 (from $20) on higher intermediate-term cash flow forecasts."

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 $18.85 yesterday.

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