Stock Update (NASDAQ:EXAS): Additional Update on CMS Reimbursement for Cologuard®
(BUSINESS WIRE)– Exact Sciences Corp. (Nasdaq:EXAS) today announced that the Centers for Medicare and Medicaid Services (CMS) has published an updated 2015 Clinical Laboratory Fee Schedule, which includes reimbursement for Exact Sciences’ Cologuard® noninvasive colon cancer screening test (CPT code G0464) at $492.72. Consistent with CMS’ Nov. 25 final payment decision, it will reimburse Cologuard based on a crosswalk to CPT codes 82274, 81275 and 81315. To establish the final 2015 reimbursement rate of $492.72 for CPT code G0464 (Cologuard), CMS utilized an internal calculation based on prior-year locality-specific payment rates for each of the component codes… Read more
Shares of Exact Sciences Corp closed last Wednesday at $27.44 . EXAS has a 1-year high of $29.97 and a 1-year low of $10.69. The stock’s 50-day moving average is $25.99 and it’s 200-day moving average is $20.97.
On the ratings front, Exact Sciences Corp has been the subject of a number of recent research reports. In a report published on December 18, analyst Isaac Ro from Goldman Sachs assigned a Buy rating to EXAS, with a price target of $32, which represents a potential upside of 16.6% from where the stock is currently trading. Separately, on December 15, William Blair`s Brian Weinstein maintained a Buy rating on Exact Sciences Corp shares.
One research analyst has rated the stock with a Sell rating, One research analyst has assigned a Hold rating and 8 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is 27.44$ which is 2.0% above where the stock closed last Wednesday.
Exact Sciences Corp is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer.