Dougherty & Co Downgrades Myriad Genetics (MYGN) to Neutral; 2013 Reimbursement Uncertainty

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Dougherty & Co downgraded Myriad Genetics (NASDAQ: MYGN) from Buy to Neutral with a price target of $22.00 (from $28.00).

Analyst, Junaid Husain, said, "...We see 2013 reimbursement uncertainty for the company’s largest revenue generator, BRACAnalysis (~81% total sales). Our anxiousness on reimbursement was heighted following last week’s release of an OIG report on coverage and payment information related to molecular diagnostic tests, including BRACAnalysis..."

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 $23.68 yesterday, with a 52 week range of $17.51-$27.00.

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