BofA/Merrill analyst Derik de Bruin upgraded Myriad Genetics to Neutral from Underperform and raised his price target for the shares to $46 from $28. UnitedHealthcare (UNH) unexpectedly changed its coverage rationale regarding the use of pharmacogenetics tests to guide treatment decisions and will now start reimbursing Myriad's GeneSight Psychotropic test, de Bruin tells investors in a research note. Further, there are also no provider restrictions on which physicians can order GeneSight Psychotropic, adds the analyst, who says Myriad can now launch its sales force and push tests into the primary care market.

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