Goldman Sachs analyst Isaac Ro upgraded Quest Diagnostics to Conviction Buy and raised his six-month price target for the shares to $113 from $101. The company should be a key beneficiary as the U.S. healthcare system shifts the cost burden to the individual and creates price transparency for the first time, Ro tells investors in a research note. He believes Quest's ability to gain market share is not factored into consensus estimates.
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Quest Diagnostics announced the launch of a new blood biomarker test for phosphorylated tau 217, or p-tau217. P-tau217 is a biomarker associated with Alzheimer's Disease, supported by research as useful for an early diagnosis of AD. The test is the latest addition to the AD-Detect portfolio of blood tests for assessing the risk of Alzheimer's Disease, which also includes testing for an array of AD biomarkers, including p-tau181 and amyloid beta proteins, as well as Apolipoprotein E isoform and plasma testing, for patients with cognitive impairment. The test is expected to be available for ordering on April 26.