Market Overview

UPDATE: SunTrust Initiates Coverage on Myriad Genetics on Pricing Risk

Related MYGN
Myriad Genetics Presents New Data on Its Companion Diagnostic and Prostate Cancer Tests at the European Society for Medical Oncology Annual Meeting
Top 4 NASDAQ Stocks In The Research Services Industry With The Highest Revenue
Genomics Out Of 'Caveman Era,' But Still A Ways To Go (Investor's Business Daily)

In a report published Friday, SunTrust Robinson Humphrey analyst Amit Hazan initiated coverage on Myriad Genetics (NASDAQ: MYGN) with a Reduce rating and $17.00 price target.

In the report, SunTrust Robinson Humphrey noted, “Our due diligence leads us to believe that the most imminent threat from new competitors for BRACAnalysis is not market share loss, but pricing pressures. We believe private insurer re-evaluation is currently ongoing on a broad scale and could realistically drive the price down by as much as 50% over the next two years. The Street's sales growth expectations for both FY14 and FY15 imply little to no pricing pressure, and we view that as a significant risk. The recent CMS reduction of COLARIS reimbursement by 46% is a good proxy here.”

Myriad Genetics closed on Thursday at $24.57.

Latest Ratings for MYGN

Sep 2015Stephens & Co.MaintainsOverweight
Sep 2015JefferiesMaintainsHold
Sep 2015Piper JaffrayMaintainsOverweight

View More Analyst Ratings for MYGN
View the Latest Analyst Ratings

Posted-In: Amit Hazan SunTrust Robinson HumphreyAnalyst Color Initiation Analyst Ratings


Related Articles (MYGN)

Get Benzinga's Newsletters