Stock Update (NASDAQ:TROV): TrovaGene Inc Announces Agreement with America’s Choice Provider Network to Offer Patients Access to its ctDNA Precision Cancer Monitoring Platform
TrovaGene Inc (NASDAQ:TROV), a developer of cell-free molecular diagnostics, announced today that it has entered into an agreement with America’s Choice Provider Network (ACPN®) establishing health insurance access to its entire suite of circulating tumor (ct)DNA Precision Cancer Monitoring℠ (PCM) tests and services. Under the terms of the agreement, Trovagene is established as a preferred provider, and its PCM testing services will be covered by over 1,700 payers in North America.
“We are very much looking forward to having a provider as progressive and innovative as Trovagene in our national provider network,” said Seth Breeden, chief operating officer of ACPN. “It is with great excitement that we can now offer our members access to Trovagene’s Precision Cancer Monitoring services.”
“We are pleased that ACPN has agreed to provide coverage for Trovagene’s PCM full offering of ctDNA products,” said Matt Posard, chief commercial officer of Trovagene. “Our commercial plan is on track to provide national sales coverage, and ACPN is the first of several additional contracts expected this year. In support of our commercialization program, we are creating a strong foundation of data from our clinical studies and manuscript publications demonstrating the medically actionable use of Trovagene’s liquid biopsy platform in the treatment of cancer.” (Original Source)
Shares of TrovaGene closed yesterday at $3.35. TROV has a 1-year high of $13.58 and a 1-year low of $2.85. The stock’s 50-day moving average is $5.00 and its 200-day moving average is $6.11.
On the ratings front, Maxim Group analyst Jason Kolbert maintained a Buy rating on TROV, with a price target of $13, in a report issued on October 27. The current price target represents a potential upside of 288.1% from where the stock is currently trading. According to TipRanks.com, Kolbert has a total average return of -21.5%, a 24% success rate, and is ranked #3577 out of 3579 analysts.
TrovaGene Inc is a development stage molecular diagnostic company. It focuses on the development and marketing of urine-based nucleic acid tests for patient/disease screening and monitoring.