Myriad Genetics (MYGN) Target Lifted at Jefferies on CMS Reimbursement

Jefferies analyst Brandon Couillard lifted his price target on Myriad Genetics (NASDAQ: MYGN) from $30 to $33 after the CMS lifted final BRCA reimbursement levels, but maintained a Hold rating.

Couillard comments, "In a surprise move, CMS revised the final NLA for BRCA testing to ~$2,200 (+52% from prior interim price) following a public comment period. We are raising our FY14 EPS forecast to $2.17 (from $2.12) to account for the new CMS reality in 4Q14. Our PT moves to $33 (from $30) on higher intermediate-term cash flow forecasts."

For an analyst ratings summary and ratings history on Myriad Genetics click here. For more ratings news on Myriad Genetics click here.

Shares of Myriad Genetics closed at $35.15 yesterday.

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