TD Cowen lowered the firm’s price target on Myriad Genetics (MYGN) to $20 from $30 and keeps a Hold rating on the shares. The firm said a focal point tonight was assessing UnitedHealth’s (UNH) recent negative coverage on GeneSight. While the decision will be a headwind , management plans to try to work with United to regain coverage and expressed confidence in the company being on track to deliver double-digit growth excluding this lost revenue.
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Read More on MYGN:
- Myriad Genetics reports Q3 adjusted EPS 6c, consensus 2c
- Myriad Genetics comments on UnitedHealthcare’s updated policy
- UnitedHealth update ‘not the end’ for Myriad’s GeneSight, says Raymond James
- Piper says Myriad appears to be trading down on GeneSight coverage change
- Myriad weakness due to UnitedHealth coverage update, says Stephens
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