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Fly News Breaks for March 29, 2018
EXAS
Mar 29, 2018 | 09:17 EDT
Exact Sciences recently had a "major" win as it signed a contract with "heavyweight" Blue Cross Blue Shield of Illinois, William Blair analyst Brian Weinstein tells investors in a research note titled "In Case You Missed It: Exact Sciences Goes In-Network With Major Payer; Recent Stock Move a Bit Perplexing." BCBS-IL has over 8M covered lives and is among the biggest payers in the country, the analyst points out. He does not believe investors are aware of this development. Merkel points out shares of Exact Sciences are down over 10% this month and has lost nearly 25% of its value this year. He remains confident in the outlook for the business and reiterates an Outperform rating on the name.
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