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VCYT

Veracyte

$7.65

-0.04 (-0.52%)

07:05
11/22/16
11/22
07:05
11/22/16
07:05

Veracyte announces CMS revised reimbursement rate for Afirma GEC

Veracyte announced that the Centers for Medicare and Medicaid Services, or CMS, has released its revised final 2017 Medicare reimbursement rate for the company's Afirma Gene Expression Classifier, or GEC. As a result of Veracyte's reconsideration request, the agency has determined the genomic test's current rate of $3,200 will be maintained in 2017. This final rate replaces the previously released lower "gapfill" amount and will go into effect on January 1, 2017. The announced rate follows Veracyte's submission to CMS of a reconsideration request expressing its concern that the previously released lower gapfill rate was not supported by CMS's own gapfill regulatory criteria.

  • 29

    Nov

  • 30

    Nov

VCYT Veracyte
$7.65

-0.04 (-0.52%)

08/04/16
SPHN
08/04/16
NO CHANGE
Target $9
SPHN
Overweight
Veracyte price target lowered to $9 from $14 at Stephens
Stephens analyst Drew Jones lowered his price target for Veracyte to $9 from $14 on valuation after the company reported Q2 revenue in line with expectations. Looking ahead, the analyst believes the company remains on track with its pulmonology pipeline. Jones reiterates an Overweight rating on the shares.
09/08/16
CANT
09/08/16
NO CHANGE
Target $13
CANT
Buy
Cantor says buy Veracyte following draft local coverage determination
Cantor analyst Bryan Brokmeier recommends that investors buy shares of Veracyte following the announced draft local coverage determination, or LCD, for the company's Percepta Bronchial Genomic Classifier. The analyst says this draft LCD with Noridian Healthcare Solutions represents over 30M covered lives for its Percepta and represents more than 25% of the U.S. market opportunity. Further, Brokmeier believes other Medicare Administrative Contractors will follow Noridian's lead. The analyst reiterates a Buy rating and $13 price target on the shares.
10/18/16
CANT
10/18/16
NO CHANGE
CANT
Veracyte should be bought at current levels, says Cantor
After Veracyte preannounced higher than expected revenue, Cantor analyst Bryan Brokmeier says that the revenue beat indicates that the company's reimbursement trends are improving. The analyst thinks that the company is well-positioned to continue getting reimbursed for its tests, and he says that the stock's valuation is "compelling." The analyst recommends buying the shares at current levels.
11/14/16
LEER
11/14/16
INITIATION
Target $12
LEER
Outperform
Veracyte reinstated with an Outperform at Leerink
Leerink analyst Puneet Souda resumed coverage of Veracyte with an Outperform rating and $12 price target, saying it is gaining traction as reimbursement continues to tilt the scale.

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