Yesterday’s Upgrade Review: EXACT Sciences Corporation (NASDAQ:EXAS)

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EXACT Sciences Corporation (NASDAQ:EXAS) received a stock rating upgrade from Craig Hallum on Jun-16-16. In a note to investors, the firm issued a Buy rating. The analysts previously had a Hold rating on the stock.

The 52-week price range is $4.67-$32.85 and the company has a market capitalization of $1.13 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 6 has assigned a hold rating, 0 says it’s a buy, and 5 have assigned a strong buy rating to the company.

EXACT Sciences Corporation (EXAS) on June 13, 2016 announced the election of John A. Fallon, M.D. to the Board of Directors.

“John’s broad-based payer, managed care and physician group practice management experience will be of great value to Collegium as we launch our first commercial product, Xtampza® ER,” said Michael Heffernan, CEO of Collegium. “His experience will provide helpful perspective as we transition to a commercial stage company. We are very pleased to have him join the Collegium team.”

“Xtampza ER has the potential to offer a truly differentiated treatment option for patients with chronic pain,” said Dr. Fallon. “I’m excited to join Collegium and look forward to working with the management team and board during this exciting time.”

Dr. Fallon served as Senior Vice President and Chief Physician Executive at Blue Cross Blue Shield of Massachusetts (“BCBS”) from 2004 through 2015. Prior to his role at BCBS, Dr. Fallon served as Chief Executive Officer for clinical affairs at the State University of New York Downstate Medical Center, including University Hospital of Brooklyn and the clinical faculty practice plan. His professional experience also includes the Partners Healthcare System, where he was Chairman of the physician network. Dr. Fallon was also the CEO of Charter Professional Services Corporation and the founder and CEO of North Shore Health System, a large physician-hospital organization in Massachusetts. He serves as the lead independent director on the board of directors of Insulet Corporation (PODD), a medical devices company, and as a member of the boards of directors of Exact Sciences Corporation (EXAS), a molecular diagnostics company and AMAG Pharmaceuticals, Inc. (AMAG), a specialty pharmaceutical company. Dr. Fallon is Chairman of the board of directors of NEHI (Network for Excellence in Health Innovation). In the past, he also served as a member of several not-for-profit boards, including: Alliance for Healthcare Improvement, Massachusetts Health Quality Partners, Massachusetts E-Health Collaborative and Neighborhood Health Plan. He also co-chaired, with the Massachusetts Secretary of Health and Human Services, the Massachusetts Patient Centered Medical Home Initiative. Dr. Fallon practiced internal medicine for more than 20 years, fulfilled his residency at Boston City Hospital, and is Board Certified in Internal Medicine. He received a BA from the College of the Holy Cross, an MBA from the University of South Florida and a Doctor of Medicine from Tufts University School of Medicine.

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