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CDNA

CareDx

$3.55

-0.21 (-5.59%)

13:07
10/03/16
10/03
13:07
10/03/16
13:07

CareDx calls for reversal of reimbursement cut to diagnostic test

CareDx said this morning it is calling for a reversal of a decision by the Centers for Medicare & Medicaid Services to reduce reimbursement for its diagnostic test AlloMap -- the only FDA-cleared blood test to monitor heart transplant patients for rejection, and the only alternative to more costly and invasive biopsies, according to the company. "This decision is unwise, unfair, and misaligned with President Obama's Precision Medicine Initiative," remarked CEO Peter Maag, who called on CMS to reconsider and reverse its proposed 32% decrease in reimbursement -- from $2,821 to $1,920.93. Maag expressed confidence that CMS will reconsider the decision, saying, "The transplant community of providers, patients, and caregivers will continue to engage with CMS during the reconsideration process." If left unchanged, the new rate would take effect as of January 1, 2017. "This process is only being used due to the delay in implementation of PAMA, where this type of reduction in reimbursement would not be permitted... AlloMap is used in the vast majority of heart transplant centers nationwide, with more than 75,000 commercial tests performed to date. During this time CareDx has never increased the price of AlloMap. CareDx has continued to further invest in improvements of the technology and new transplant services despite not having made a profit on AlloMap," the company added.

  • 15

    Nov

CDNA CareDx
$3.55

-0.21 (-5.59%)

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).
06/13/16
CANT
06/13/16
NO CHANGE
Target $13
CANT
Buy
Cantor sees 'flawed methodology' with new CMS rates
Cantor Fitzgerald analyst Bryan Brokmeier says shares of Veracyte (VCYT) may be under pressure this morning following Friday's release of a proposed gapfill Medicare reimbursement rate reduction on the company's Afirma GEC. Along with the 30% reduction on Afirma's GEC, the release from the Centers for Medicare and Medicaid Services resets rates on 15 other molecular diagnostic tests, including reductions in CareDx's (CNDA) AlloMap, which is down 74%, Genomic Health's (GHDX) Oncotype Dx Colon, which is down 73%, and Rosetta Genomics' (ROSG) Cancer Origin Test, which is down 57%, Brokmeier tells investors in a research note. The analyst, however, believes the preliminary proposed gapfill rate is based on a "flawed methodology" because it is the median proposed rate submitted by all Medicare Administrative Contractors, including those that have little or no experience administering claims on these tests, Brokmeier contends. He points out that Medicare represents approximately 20% of Afirma GEC test volume for Veracyte. Based on 2015 volume, the 30% Medicare rate reduction for Afirma would reduce total revenues by $3.7M or 7.5%, he adds. The analyst keeps a Buy rating on Veracyte with a $13 price target.
06/20/16
PIPR
06/20/16
NO CHANGE
PIPR
Final PAMA rule better than expected, says Piper Jaffray
Piper Jaffray analyst William Quirk says the final Protecting Access to Medicare Act published Friday by Centers for Medicare & Medicaid Services is better than expected. PAMA is delayed until 2018 from 2017 as expected, Quirk tells investors in a research note. Hospital labs will be required to submit private payer rates to CMS, a positive relative to prior expectations, the analyst notes. He views the decision as beneficial for Quest Diagnostics (DGX) and LabCorp (LH). Further, CMS will require labs to submit only in-network rates and out-of-network "final" rates, which is a positive for specialty labs who have in-network rates at or above Medicare including CareDx (CDNA), Genomic Health (GHDX), Myriad Genetics (MYGN), Oxford Immunotec (OXFD) and Veracyte (VCYT), Quirk writes.
07/07/16
PIPR
07/07/16
NO CHANGE
PIPR
New FDA recommendation positive for lab companies, says Piper Jaffray
Piper Jaffray analyst William Quirk says that the FDA has issued draft guidance to streamline its approval process for next-generation sequencing, or NGS, germline tests, which could be a substitute for a Premarket Notification or 510k. The analyst believes streamlined regulatory approaches for NGS tests are a positive for labs with NGS laboratory-developed tests such as CareDx (CDNA), Quest Diagnostics (DGX), Genomic Health (GHDX), LabCorp (LH), Myriad Genetics (MYGN), Natera (NTRA), Oxford Immunotec (OXFD), Sequenom (SQNM), Trovagene (TROV), and Veracyte (VCYT).

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V

Visa

$102.90

-2.665 (-2.52%)

14:50
09/25/17
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Bullish option play opened in Visa as shares slump »

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RHT

Red Hat

$105.41

-0.89 (-0.84%)

14:49
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Red Hat options imply 10.7% move in share price post-earnings, above median historical move »

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APRN

Blue Apron

$5.47

0.28 (5.40%)

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Blue Apron call volume above normal and directionally bullish »

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TRIP

TripAdvisor

$44.37

0.125 (0.28%)

, PCLN

Priceline

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-4.22 (-0.23%)

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TRIP

TripAdvisor

$44.37

0.125 (0.28%)

PCLN

Priceline

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-4.22 (-0.23%)

TRVG

trivago

$10.70

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EXPE

Expedia

$145.77

2.65 (1.85%)

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DY

Dycom

$81.51

-1.185 (-1.43%)

14:36
09/25/17
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14:36
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Conference/Events
Dycom management to meet with Stephens »

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DY

Dycom

$81.56

-1.13 (-1.37%)

14:35
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Dycom put volume heavy and directionally bearish »

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  • 26

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AMZN

Amazon.com

$955.10

-9.55 (-0.99%)

14:31
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14:31
Technical Analysis
Technical View: Amazon.com falls, topping process confirmed »

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DIS

Disney

$99.37

0.77 (0.78%)

14:27
09/25/17
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14:27
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14:27
Recommendations
Disney analyst commentary  »

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  • 09

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ESV

Ensco

$5.77

0.53 (10.11%)

14:25
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14:25
Options
Ensco call volume above normal and directionally bullish »

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  • 02

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NFLX

Netflix

$187.35

-1.43 (-0.76%)

14:21
09/25/17
09/25
14:21
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14:21
Technical Analysis
Technical View: Netflix trades near lows of the day »

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$NSD

NASDAQ Market Internals

14:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

14:16
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Technical Analysis
NYSE market internals summary »

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GREK

Global X MSCI Greece ETF

$9.18

-0.635 (-6.47%)

14:10
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Options
MSCI Greek Fund puts are active as shares falter »

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AMD

AMD

$13.30

-0.11 (-0.82%)

, NVDA

Nvidia

$179.00

-1.76 (-0.97%)

14:08
09/25/17
09/25
14:08
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14:08
Hot Stocks
AMD, NVIDIA fall after Intel unveils next generation of core processors »

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AMD

AMD

$13.30

-0.11 (-0.82%)

NVDA

Nvidia

$179.00

-1.76 (-0.97%)

INTC

Intel

$37.18

-0.02 (-0.05%)

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HLF

Herbalife

$67.51

-0.06 (-0.09%)

14:06
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Hot Stocks
FTC grants Carl Icahn clearance for additional Herbalife purchases »

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YY

YY

$80.52

4.45 (5.85%)

14:05
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YY call volume above normal and directionally bullish »

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14:05
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General news
Treasury Option Action: heavy put spread demand at the short-end »

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RCII

Rent-A-Center

$10.80

-0.07 (-0.64%)

13:55
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Options
Rent A Center put volume heavy and directionally bearish »

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Conference/Events
Senate Finance Committee holds a hearing »

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GS

Goldman Sachs

$230.10

-0.93 (-0.40%)

13:54
09/25/17
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Periodicals
Symphony to raise $100M to expand, The Information says »

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AMDA

Amedica

$0.33

0.005 (1.56%)

13:50
09/25/17
09/25
13:50
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13:50
Downgrade
Amedica rating change  »

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  • 26

    Sep

SCWX

SecureWorks

$12.57

0.15 (1.21%)

13:47
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13:47
Hot Stocks
Breaking Hot Stocks news story on SecureWorks »

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DVN

Devon Energy

$36.59

0.81 (2.26%)

13:45
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Options
Devon Energy call volume above normal and directionally bullish »

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  • 01

    Nov

13:45
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General news
Treasury Action: coupon supply commences Tuesday »

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ADP

ADP

$108.16

1.37 (1.28%)

13:43
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Pershing: ADP overstates shareholder return during CEO's tenure »

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