UPDATE: Jefferies Assumes Coverage on EXACT Sciences with Buy on Increased Confidence

In a report published Friday, Jefferies analyst Brandon Couillard assumed coverage on EXACT Sciences (NASDAQ: EXAS) with a Buy rating, and raised the price target from $12.00 to $14.00.

In the report, Jefferies noted, “We are assuming coverage of EXAS at Buy and raising our price target to $14 (from $12) on greater confidence in our longer-term market penetration assumptions for its novel colorectal cancer detection test (Cologuard).”

EXACT Sciences closed on Thursday at $11.24.