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.

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