UPDATE: Benchmark Raises PT to $20 on Exact Sciences Corporation Ahead of Top Line Data
Benchmark maintained Exact Sciences Corporation (NASDAQ: EXAS) with a Speculative Buy and raised the price target from $17.00 to $20.00.
Benchmnark noted, "Exact's Q4 update affirmed our expectation that pivotal top line colorectal cancer study data should be announced in March or April. These results are expected to support the third and final modular PMA filing seeking approval of a colon cancer and pre-cancer screening test. Based on prior tests demonstrating up to 98% cancer sensitivity, we believe there is a high likelihood this prospective study can demonstrate cancer sensitivity that exceeds the FDA's anticipated 85% threshold for approval."
Exact Sciences Corporation closed at $10.56 on Wednesday.
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