Shares of beaten-down Venaxis (APPY +18.2%) are soaring today after Canaccord upgraded the stock...

|By:, SA News Editor

Shares of beaten-down Venaxis (APPY +18.2%) are soaring today after Canaccord upgraded the stock to Buy and nearly tripled its price target to $7.00 from $2.50. The firm says that APPY's pursuit of a blood test to identify those at low risk for appendicitis is compelling, considering that appendicitis is the most-common non-traumatic childhood surgical disease. FDA approval could come before mid-2014 and the U.S. market alone could be nearly $700M.