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NVTA

Invitae

$8.76

0.37 (4.41%)

07:09
10/03/16
10/03
07:09
10/03/16
07:09

Invitae reports final Medicare pricing for breast cancer related disorders

Invitae Corporation announced that the Centers for Medicare and Medicaid Services announced final pricing for genetic testing for hereditary breast cancer-related disorders. The tests are billed under the new current procedure terminology code 81432, which became effective on January 1, 2016. CMS had previously announced a temporary payment per test of $622.53, and -- after a public comment period -- the final payment per test is now set at $925. Payments are made by Noridian, CMS's administrative contractor for California. The payments reflect a decision by the Palmetto MolDX program, the Medicare contractor that determines molecular testing policy in about 20 states, including California. According to their recently published guidance titled "Next Generation Sequencing and Tier 1 and Tier 2 Coding and Billing Guidelines," CPT code 81432 should be used for tests conducted by next-generation sequencing which include BRCA1, BRCA2, and 12 or more other genes relevant to hereditary breast cancer-related disorders, regardless of whether a single gene or multiple genes are selected for testing. Invitae's test offers detection of single nucleotide variants as well as deletions, duplications, rearrangements, and larger copy number variants all at the same price under a single CPT code.

NVTA Invitae
$8.76

0.37 (4.41%)

06/30/16
BNCH
06/30/16
INITIATION
Target $8.5
BNCH
Hold
Invitae initiated with a Hold at Benchmark
Target $8.50.
06/13/16
LEER
06/13/16
NO CHANGE
LEER
CMS price proposals for diagnostic tests a negative for most, says Leerink
Leerink analyst Dan Leonard expects several diagnostics stocks to underperform following proposed price cuts or low initial reimbursement rates by the Centers for Medicare and Medicaid Services, or CMS, for diagnostic tests. If finalized, the preliminary pricing would negatively impact CareDx (CDNA), Veracyte (VCYT), and InVitae (NVTA), the analyst tells investors in a research note, adding that he also sees an indirect negative read-through for Illumina (ILMN).
04/19/16
PIPR
04/19/16
NO CHANGE
PIPR
Overweight
Myriad Genetics selloff on reimbursement rate unwarranted, says Piper Jaffray
Piper Jaffray analyst William Quirk believes the selloff today in Myriad Genetics (MYGN) over Noridian's preliminary reimbursement rate for CPT code 81432 is unwarranted. Myriad does not currently bill to Medicare using the new 81432 CPT code since it has its own Z-code through MolDx, Quirk tells investors. The analyst, who believes private payers reimburse myRisk at or above Medicare's rate, keeps an Overweight rating on Myriad shares.
04/19/16
WBLR
04/19/16
NO CHANGE
WBLR
Invitae pricing not relevant for Myriad, says William Blair
William Blair analyst Amanda Murphy believes Invitae's (NVTA) hereditary breast cancer test reimbursement from Noridian does not have relevance for Myriad Genetics (MYGN). She points out that Myriad's MyRisk assay is a pan cancer hereditary cancer panel, making Invitae's CPT code 81342 not an appropriate code for Myriad to bill. The analyst has an Outperform rating on Myriad shares. The stock is down 8% to $35.82 after Invitae announced this morning its reimbursement price.

TODAY'S FREE FLY STORIES

NUE

Nucor

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1.97 (3.24%)

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ROKA

Roka Bioscience

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-0.18 (-4.05%)

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TESS

TESSCO

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LJPC

La Jolla

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1.65 (9.06%)

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CUR

Neuralstem

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WUBA

58.com

$32.46

0.49 (1.53%)

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NURO

NeuroMetrix

$0.63

-0.0317 (-4.79%)

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  • 28

    Feb

CGI

Celadon Group

$8.55

0.45 (5.56%)

, USAK

USA Truck

$9.00

0.14 (1.58%)

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USA Truck

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0.14 (1.58%)

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$20.64

0.2 (0.98%)

KNX

Knight Transportation

$32.70

0.55 (1.71%)

SWFT

Swift Transportation

$22.09

0.35 (1.61%)

CVTI

Covenant Transportation

$20.06

0.05 (0.25%)

MRTN

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WERN

Werner

$27.80

0.45 (1.65%)

XPO

XPO Logistics

$51.41

1.01 (2.00%)

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GLD

SPDR Gold Trust

$119.45

-0.25 (-0.21%)

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SGY

Stone Energy

$6.73

0.15 (2.28%)

, EQT

EQT Corporation

$60.73

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SGY

Stone Energy

$6.73

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EQT

EQT Corporation

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EXEL

Exelixis

$21.69

-0.05 (-0.23%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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GE

General Electric

$29.94

-0.25 (-0.83%)

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Periodicals
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VIP

VimpelCom

$4.30

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VAC

Marriott Vacations

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TGT

Target

$66.95

0.435 (0.65%)

, AZO

AutoZone

$734.44

1.685 (0.23%)

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VRX

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$16.73

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PAH

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$13.19

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ENDP

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$13.15

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DDD

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$17.04

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SEAS

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$18.66

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PCLN

Priceline

$1,631.62

-5.64 (-0.34%)

, WDAY

Workday

$90.92

1.26 (1.41%)

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PCLN

Priceline

$1,631.62

-5.64 (-0.34%)

WDAY

Workday

$90.92

1.26 (1.41%)

PRGO

Perrigo

$84.39

-0.04 (-0.05%)

ALB

Albemarle

$92.74

-0.19 (-0.20%)

EXEL

Exelixis

$21.69

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RSPP

RSP Permian

$40.77

0.88 (2.21%)

FTR

Frontier Communications

$3.37

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CST

CST Brands

$48.37

0.02 (0.04%)

THC

Tenet

$22.36

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HTZ

Hertz

$19.86

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HTZ

Hertz

$19.87

-0.105 (-0.53%)

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Hertz options imply 18.0% move in share price post-earnings, above median historical move »

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15:00
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General news
Treasury Closing Summary: »

Treasury Closing Summary:…

MNK

Mallinckrodt

$54.42

1.04 (1.95%)

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  • 01

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INCY

Incyte

$131.21

9.26 (7.59%)

, SE

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INCY

Incyte

$131.21

9.26 (7.59%)

SE

Acquired by ENB

ENB

Enbridge

$42.05

0.705 (1.71%)

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  • 06

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DDS

Dillard's

$56.99

-0.01 (-0.02%)

, ISIL

Intersil

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Dillard's to replace Intersil in S&P 400 as of 2/28 open »

Renesas Electronics Corp.…

DDS

Dillard's

$56.99

-0.01 (-0.02%)

ISIL

Intersil

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WRK

WestRock

$53.69

0.26 (0.49%)

14:54
02/27/17
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Conference/Events
WestRock management to meet with Jefferies »

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  • 03

    Mar

GIG

GigPeak

$3.10

0.03 (0.98%)

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Gardner Lewis reports new 8.6% stake in GigPeak »

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