real-time news and commentary for investors
Friday, Oct 11
Myriad Genetics falls as SunTrust sees pricing pressure
- Myriad Genetics (MYGN -6%) slides as SunTrust raises pricing questions (something MYGN investors certainly do not want to hear about).
- "The most imminent threat from new competitors for BRACAnalysis is not market share, buy pricing pressures," analyst Amit Hazan says, adding that "private insurer re-evaluation is currently ongoing ... and could realistically drive the price down by as much as 50% over the next two years."
- MYGN initiated at Reduce.
- Price target is $17.