Oppenheimer Maintains a 'Perform' on Myriad Genetics (MYGN); Comfortable Unknown
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Price: $3.02 -0.33%
Rating Summary:
7 Buy, 19 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
7 Buy, 19 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Oppenheimer maintains a 'Perform' on Myriad Genetics (NASDAQ: MYGN) price target of $29.00.
Analyst, David Ferreiro, said, "After spending time on the road with MYGN management, we are getting increasingly comfortable that current overhangs on the shares will pass without incident. Investor concern centers on the CPT coding reform process and stems from uncertainty over which fee schedule BRACAnalysis/Colaris will be reimbursed under (CLFS or PFS) and the actual methodology for determining the reimbursement level. CMS will make the final CLFS/PFS determination in November 2012. Given Medicare regulations require most human genetic tests classified as CLFS (clinical laboratory fee schedule), we see little risk for placement on the PFS (physician fee schedule). While a drastic reimbursement cut is unlikely, the process remains frustratingly opaque and likely without final resolution until September 2013."
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 $27.00 yesterday.
Analyst, David Ferreiro, said, "After spending time on the road with MYGN management, we are getting increasingly comfortable that current overhangs on the shares will pass without incident. Investor concern centers on the CPT coding reform process and stems from uncertainty over which fee schedule BRACAnalysis/Colaris will be reimbursed under (CLFS or PFS) and the actual methodology for determining the reimbursement level. CMS will make the final CLFS/PFS determination in November 2012. Given Medicare regulations require most human genetic tests classified as CLFS (clinical laboratory fee schedule), we see little risk for placement on the PFS (physician fee schedule). While a drastic reimbursement cut is unlikely, the process remains frustratingly opaque and likely without final resolution until September 2013."
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 $27.00 yesterday.
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