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Jefferies provided color on Myriad Genetics
MYGN. In a research report published today, Jefferies commented on the Molecular Pathology Coding Workgroup meeting.
In a research report published today, Jefferies states, "In conjunction with AMA's new coding initiative for molecular diagnostics, MPCW members
will meet in a public (but confidential) forum on June 2 in San Francisco. While we
do not expect incremental discussion surrounding the list of Tier 1 and Tier 2 codes
already proposed (of which BRACAnalysis is a member), we do expect CMS to make an
announcement that should reveal the agency's intended mechanism (Clinical Laboratory
Fee Schedule (CLFS) and / or Medicare Physician Fee Schedule (MPFS)) for setting
reimbursement values for at least a portion of such Tier 1 and Tier 2 codes at some point
in the first half of June 2011."
At the moment, Jefferies has a Buy rating and a price target of $27 on the company's stock. On Tuesday, Myriad lost 0.47% to close the day at $25.41.
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