Jefferies Provides Color on Myriad Genetics, Buy

Jefferies provided color on Myriad Genetics (NASDAQ: MYGN). In a research report published today, Jefferies commented on the Molecular Pathology Coding Workgroup meeting.

In a research report published today, Jefferies states, "In conjunction with AMA's new coding initiative for molecular diagnostics, MPCW members will meet in a public (but confidential) forum on June 2 in San Francisco. While we do not expect incremental discussion surrounding the list of Tier 1 and Tier 2 codes already proposed (of which BRACAnalysis is a member), we do expect CMS to make an announcement that should reveal the agency's intended mechanism (Clinical Laboratory Fee Schedule (CLFS) and / or Medicare Physician Fee Schedule (MPFS)) for setting reimbursement values for at least a portion of such Tier 1 and Tier 2 codes at some point in the first half of June 2011."

At the moment, Jefferies has a Buy rating and a price target of $27 on the company's stock. On Tuesday, Myriad lost 0.47% to close the day at $25.41.