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CDNA

CareDx

$3.00

-0.15 (-4.76%)

05:10
11/22/16
11/22
05:10
11/22/16
05:10

CareDx receives notice from CMS that CLFS for AlloMap to remain at $2,821

CareDx announced that the Centers for Medicare & Medicaid Services, or CMS, issued final changes to the CY 2017 Medicare Clinical Laboratory Fee Schedule, or CLFS. These fee changes included AlloMap, which reverted from a proposed rate of $1,920 back to the current reimbursement rate of $2,821. CMS mentioned that changes were based on public input on the preliminary determinations and final 2016 gapfill files issued on September 30, 2016.

  • 29

    Nov

CDNA CareDx
$3.00

-0.15 (-4.76%)

06/13/16
LEER
06/13/16
NO CHANGE
LEER
CMS price proposals for diagnostic tests a negative for most, says Leerink
Leerink analyst Dan Leonard expects several diagnostics stocks to underperform following proposed price cuts or low initial reimbursement rates by the Centers for Medicare and Medicaid Services, or CMS, for diagnostic tests. If finalized, the preliminary pricing would negatively impact CareDx (CDNA), Veracyte (VCYT), and InVitae (NVTA), the analyst tells investors in a research note, adding that he also sees an indirect negative read-through for Illumina (ILMN).
06/13/16
CANT
06/13/16
NO CHANGE
Target $13
CANT
Buy
Cantor sees 'flawed methodology' with new CMS rates
Cantor Fitzgerald analyst Bryan Brokmeier says shares of Veracyte (VCYT) may be under pressure this morning following Friday's release of a proposed gapfill Medicare reimbursement rate reduction on the company's Afirma GEC. Along with the 30% reduction on Afirma's GEC, the release from the Centers for Medicare and Medicaid Services resets rates on 15 other molecular diagnostic tests, including reductions in CareDx's (CNDA) AlloMap, which is down 74%, Genomic Health's (GHDX) Oncotype Dx Colon, which is down 73%, and Rosetta Genomics' (ROSG) Cancer Origin Test, which is down 57%, Brokmeier tells investors in a research note. The analyst, however, believes the preliminary proposed gapfill rate is based on a "flawed methodology" because it is the median proposed rate submitted by all Medicare Administrative Contractors, including those that have little or no experience administering claims on these tests, Brokmeier contends. He points out that Medicare represents approximately 20% of Afirma GEC test volume for Veracyte. Based on 2015 volume, the 30% Medicare rate reduction for Afirma would reduce total revenues by $3.7M or 7.5%, he adds. The analyst keeps a Buy rating on Veracyte with a $13 price target.
06/20/16
PIPR
06/20/16
NO CHANGE
PIPR
Final PAMA rule better than expected, says Piper Jaffray
Piper Jaffray analyst William Quirk says the final Protecting Access to Medicare Act published Friday by Centers for Medicare & Medicaid Services is better than expected. PAMA is delayed until 2018 from 2017 as expected, Quirk tells investors in a research note. Hospital labs will be required to submit private payer rates to CMS, a positive relative to prior expectations, the analyst notes. He views the decision as beneficial for Quest Diagnostics (DGX) and LabCorp (LH). Further, CMS will require labs to submit only in-network rates and out-of-network "final" rates, which is a positive for specialty labs who have in-network rates at or above Medicare including CareDx (CDNA), Genomic Health (GHDX), Myriad Genetics (MYGN), Oxford Immunotec (OXFD) and Veracyte (VCYT), Quirk writes.
07/07/16
PIPR
07/07/16
NO CHANGE
PIPR
New FDA recommendation positive for lab companies, says Piper Jaffray
Piper Jaffray analyst William Quirk says that the FDA has issued draft guidance to streamline its approval process for next-generation sequencing, or NGS, germline tests, which could be a substitute for a Premarket Notification or 510k. The analyst believes streamlined regulatory approaches for NGS tests are a positive for labs with NGS laboratory-developed tests such as CareDx (CDNA), Quest Diagnostics (DGX), Genomic Health (GHDX), LabCorp (LH), Myriad Genetics (MYGN), Natera (NTRA), Oxford Immunotec (OXFD), Sequenom (SQNM), Trovagene (TROV), and Veracyte (VCYT).

TODAY'S FREE FLY STORIES

ICE

IntercontinentalExchange

$75.83

0.23 (0.30%)

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Natixis, NYSE enter licensing agreement »

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CBIO

Catalyst Biosciences

$21.21

1.72 (8.83%)

16:43
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Breaking Syndicate news story on Catalyst Biosciences »

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IRET

Investors Real Estate

$5.74

0.03 (0.53%)

16:40
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Investors Real Estate completes sale of two additional medical office buildings »

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FFIC

Flushing Financial

$28.93

-0.1 (-0.34%)

16:39
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Flushing Financial announces dividend plans for 2018 »

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    Jan

JMBA

Jamba

$9.14

-0.01 (-0.11%)

16:37
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16:37
Syndicate
Jamba 2.1M share Block Trade; price range $8.25-$8.40 »

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FULT

Fulton Financial

$18.65

0.1 (0.54%)

16:37
01/22/18
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16:37
Earnings
Fulton Financial reports Q4 EPS 19c, consensus 28c »

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  • 23

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AMGN

Amgen

$192.33

3.05 (1.61%)

16:36
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Hot Stocks
Amgen: Aimovig met all primary, secondary endpoints in Phase 3b LIBERTY study »

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AMGN

Amgen

$192.33

3.05 (1.61%)

16:34
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16:34
Hot Stocks
Breaking Hot Stocks news story on Amgen »

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FL

Foot Locker

$50.37

0.16 (0.32%)

16:32
01/22/18
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16:32
Hot Stocks
Foot Locker makes strategic investment in Carbon38 »

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EPE

EP Energy

$2.48

0.17 (7.36%)

16:32
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Hot Stocks
EP Energy sees FY18 $600M-$650M of oil and gas expenditures, »

Sees FY18 81…

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DRI

Darden

$98.06

-0.98 (-0.99%)

16:31
01/22/18
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16:31
Hot Stocks
Darden names Dave George as COO »

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RAD

Rite Aid

$2.29

-0.02 (-0.87%)

, WBA

Walgreens Boots Alliance

$77.40

0.93 (1.22%)

16:31
01/22/18
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16:31
Hot Stocks
Rite Aid provides update on sale of assets to Walgreens Boots Alliance »

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RAD

Rite Aid

$2.29

-0.02 (-0.87%)

WBA

Walgreens Boots Alliance

$77.40

0.93 (1.22%)

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ZION

Zions Bancorp

$54.16

0.43 (0.80%)

16:30
01/22/18
01/22
16:30
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16:30
Earnings
Zions Bancorp reports Q4 adjusted EPS 80c, consensus 73c »

Harris H. Simmons,…

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  • 22

    Jan

EPE

EP Energy

$2.48

0.17 (7.36%)

16:30
01/22/18
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16:30
Hot Stocks
EP Energy reports preliminary FY17 production results of 82,300MBoe/d »

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16:30
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Options
Preliminary option volume of 20.3M today »

Preliminary option volume…

RMD

ResMed

$87.51

-1.17 (-1.32%)

16:30
01/22/18
01/22
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16:30
Hot Stocks
Breaking Hot Stocks news story on ResMed »

ResMed up 8.5% to $95.00…

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  • 22

    Jan

EMR

Emerson

$73.26

0.12 (0.16%)

16:29
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Initiation
Emerson initiated  »

Emerson initiated with a…

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  • 06

    Feb

JUNO

Juno Therapeutics

$86.00

18.19 (26.83%)

, CELG

Celgene

$102.91

0.26 (0.25%)

16:28
01/22/18
01/22
16:28
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16:28
Downgrade
Juno Therapeutics, Celgene rating change  »

Juno Therapeutics…

JUNO

Juno Therapeutics

$86.00

18.19 (26.83%)

CELG

Celgene

$102.91

0.26 (0.25%)

03/08/13
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HSGX

Histogenics

16:28
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Syndicate
Breaking Syndicate news story on Histogenics »

Histogenics files $50M…

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  • 26

    Feb

TD

Toronto-Dominion

$59.72

0.47 (0.79%)

, AMTD

TD Ameritrade

$55.88

0.71 (1.29%)

16:27
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Hot Stocks
TD Bank Group comments on expected impact of TD Ameritrade's Q1 earnings »

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TD

Toronto-Dominion

$59.72

0.47 (0.79%)

AMTD

TD Ameritrade

$55.88

0.71 (1.29%)

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  • 23

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VR

Validus

$67.29

20.57 (44.03%)

, AIG

AIG

$61.00

-0.55 (-0.89%)

16:26
01/22/18
01/22
16:26
01/22/18
16:26
Downgrade
Validus, AIG rating change  »

Validus downgraded to…

VR

Validus

$67.29

20.57 (44.03%)

AIG

AIG

$61.00

-0.55 (-0.89%)

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  • 02

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PRK

Park National

$107.18

-0.82 (-0.76%)

16:25
01/22/18
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16:25
Earnings
Breaking Earnings news story on Park National »

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FBK

FB Financial

$43.82

0.13 (0.30%)

16:25
01/22/18
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Earnings
FB Financial reports Q4 adjusted EPS 60c, consensus 53c »

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NBTB

NBT Bancorp

$37.79

0.08 (0.21%)

16:24
01/22/18
01/22
16:24
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16:24
Earnings
NBT Bancorp reports Q4 EPS 50c, consensus 67c »

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PFBC

Preferred Bank

$65.89

-1.05 (-1.57%)

16:22
01/22/18
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Earnings
Preferred Bank reports Q4 EPS 52c, consensus 88c »

Q4 results included a…

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