Needham analyst Stephen Unger noted that Myriad Genetics (MYGN) announced that UnitedHealthcare (UNH) has issued a positive coverage decision for pharmacogenomic testing for multi-gene panels, which includes the GeneSight Psychotropic test. This is a "MAJOR WIN" for Myriad and he estimates the total revenue opportunity with UnitedHealthcare for GeneSight could be $2B-$4B, though he is unable to estimate annual testing penetration or relative market share, Unger tells investors. He keeps a Hold rating Myriad shares, which are up to $14.85, or 51%, to $43.99 in late morning trading.

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include: Biohaven Pharmaceutical... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here