Shares of Exact Sciences soar following Cologuard test agreement

October 11, 2014 12:38 PM

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Shares of Exact Sciences soar following Cologuard test agreement

After the news surfaced that the Center for Medicare and Medicaid Services have reached an agreement over the biotech's reimbursement rate of $502 per test of Cologuard, a surge of more than 45% was triggered in the shares of Exact Sciences. The stock settled slightly down towards of the end of the trading session. Cologuard is the first non-invasive DNA screening test for colon cancer.

Exact Sciences saw a rise of 36% to $24.60 Friday following the assurance that its new colon cancer diagnostic test, Cologuard, will be covered by Medicare. The price target of Canaccord Genuity was increased to 32 from 28 and price mark of Jefferies was raised to 27 from 20. Shares rocketed 36% to ...

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