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Fly News Breaks for August 3, 2016
FMI
Aug 3, 2016 | 08:44 EDT
As noted earlier, Janney Capital downgraded Foundation Medicine to Sell from Neutral. Analyst Paul Knight says that the company's decision to apply for the government's Expedited Access Pathway and Parallel Review programs was a good call, as acceptance into the programs would maximize its chances of commercial success. However, the analyst believes that the company is facing "pricing and approval risk" before its anticipated acceptance into the programs in late 2017. Target $15.
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