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Monday, Oct 21
Credit Suisse sees loss of market share, pricing power for Myriad Genetics
- Given the debate surrounding BRCA pricing and the implications for Myriad Genetics (MYGN -2.9%), it's always worth looking at the color from sell-side notes these days.
- From Credit Suisse's downgrade: "Our review of the legal, scientific and pricing issues surrounding MYGN's Integrated BRACAnalysis test leaves us increasingly concerned about the company's growth prospects," analyst Vamil Divan says.
- Here's the most disconcerting part of the note: "We believe it is unlikely that MYGN will be able to secure a preliminary injunction removing potential competitors from the market in the coming weeks and, as a result, we see MYGN losing market share and pricing power as we move into 2014 and beyond."
- Price target cut to $20 from $28.
- More on the BRCA debate here