CMS Cuts Reimbursement for BRCA1/2 Testing by 49 Percent; Analyst Downgrades Myriad Shares | GenomeWeb

NEW YORK (GenomeWeb News) – The Centers for Medicare and Medicaid Services updated its reimbursement level for BRACA testing at $1,438 for 2014, a slash of nearly 49 percent from a previous level of $2,795.

As a result, investment bank Mizuho Securities today downgraded its rating on Myriad Genetics' shares to Hold from Buy and cut the price target on the company's stock to $24 from $36.

In morning trading on the Nasdaq on Monday, shares of Myriad fell 16 percent to $20.18.

Get the full story

This story is free
for registered users

Registering provides access to this and other free content.

Register now.

Already have an account?
Login Now.

Ivanka Trump and Secretary of Education Betsy DeVos call on girls to pursue STEM careers, the Associated Press reports.

Some science companies will be taking part in next month's March for Science, Fortune reports.

In Genome Research this week: longitudinal study of Burkholderia cenocepacia isolates from cystic fibrosis patients, long-read assembly approach, and more.

Shale oil companies are turning to DNA sequencing to find spots to drill, Reuters reports.