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News Breaks
December 30, 2013
07:27 EDTMYGNMyriad to address 'concerns' during CMS comment period
Myriad Genetics disclosed that on December 27, the Centers for Medicare & Medicaid Services announced that it is providing an additional public comment period through January 27, 2014. "It is unclear why CMS has not valued the BRCA 2 gene in the 81211 code," the company stated. "It is also unclear how CMS arrived at the 81211 payment rate within the requirements of the federal gapfill regulations," it added. Myriad said it will be commenting during the new public comment period "to address a number of both substantive and process concerns." On September 30, the CMS posted a National Limit Amount of $2,795.09 for CPT code 81211, which covers a test for the full sequencing of the BRCA 1 and 2 genes and $1,449.01 for CPT code 81214, which covers a test for the full sequencing of only the BRCA 1 gene. On November 29, CMS posted an NLA of $1,438.14 for CPT code 81211 and the same amount for CPT code 81214. There is no payment rate for code 81216, which covers a test for the full sequencing of the BRCA 2 gene. The new payment rate for CPT codes 81211 and 81214 will be effective for tests performed on or after January 1, 2014. Shares of Myriad Genetics are down 10%, or $2.44, to $21.70 in pre-market trading.
News For MYGN From The Last 14 Days
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April 7, 2014
16:34 EDTMYGNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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11:09 EDTMYGNMyriad Genetics advises prior BRACAnalysis news release be disregarded
Myriad Genetics advised that readers should disregard the news release, "Myriad Genetics Submits Premarket Approval to FDA for BRACAnalysis" issued April 7 by the company over GlobeNewswire.
10:16 EDTMYGNMyriad Genetics has a conference call hosted by JPMorgan
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05:48 EDTMYGNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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April 4, 2014
11:07 EDTMYGNMyriad Genetics price target raised to $42 from $34 at Piper Jaffray
Piper Jaffray raised its price target for Myriad Genetics shares to $42 to reflect CMS' recent decision to increase BRCA reimbursement. The firm keeps an Overweight rating on the stock.
10:02 EDTMYGNOn The Fly: Analyst Upgrade Summary
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06:48 EDTMYGNMyriad Genetics upgraded to Buy from Neutral at Mizuho
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06:46 EDTMYGNMyriad Genetics upgraded to Buy from Neutral at Mizuho

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