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Fly News Breaks for December 3, 2015
MYGN
Dec 3, 2015 | 05:59 EDT
Piper Jaffray analyst William Quirk notes that the Centers for Medicare and Medicaid Services corrected the final 2016 Clinical Diagnostic Laboratory Fee Schedule for Myriad Genetics' BRCA1/2 sequencing to $2,485.86, in line with his original $2,483.37 expectation. Last week, the price listed at $1,839.54. The corrected 2016 rate is an 11% reduction from 2015's rate, Quirk tells investors in a research note. Since Medicare is around 8% of Myriad's revenue, he expects the impact to be less than1% to the company's total 2016 revenue. Quirk has an Overweight rating on Myriad Genetics.
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