Seeking Alpha

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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