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Fly News Breaks for August 14, 2019
MYGN
Aug 14, 2019 | 15:55 EDT
Barclays analyst Jack Meehan downgraded Myriad Genetics to Underweight from Equal Weight after the company disclosed that it is in discussion with the FDA to make changes to the GeneSight test report, which he thinks could compromise the test's value proposition. While Myriad would not comment further on what changes it would need to make, the analyst believes the primary concern raised by the FDA may be around specific medication recommendations for patients with depression. Meehan also lowered his price target on the shares to $25 from $40.
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