EXACT Sciences Building A Better Screening Test - Initiating With A Buy And $10 Target

According to Auriga, EXACT Sciences Corp. EXAS is building a better screening test and initiating with a Buy and $10 target. Auriga reported that EXAS is developing Cologuard, a stool-based test for Colorectal Cancer (CRC) screening, a potential $1 billion-plus market opportunity. “Clinical data to date has been impressive, demonstrating 85% sensitivity for cancer and 64% sensitivity for pre-cancer –putting Cologuard among the highest sensitivity and specificity screening tests on the market. EXAS continues to improve performance attributes, and we expect the locked assay to demonstrate 85% to 90% sensitivity for cancer and 64% sensitivity for pre-cancer in a large, prospective 10,000 patient clinical trial (3Q11 start). Putting these detection rates into a convenient, noninvasive platform, should fit well within the CRC screening market and enable EXAS to ultimately capture 30% of the estimated 12 million annual stool screens.” EXACT Sciences closed yesterday at $5.43.