Myriad Genetics outlook still positive, says Cantor After a judge denied Myriad's request for a preliminary injunction against a competitor and Myriad's stock decline more than 8% yesterday, Cantor says it expected the motion to be denied. The firm continues to believe that Myriad's position in the hereditary cancer testing market is strong, and it reiterates a $42 price target and Buy rating on the shares.
Myriad Genetics, Tufts Health Plan sign agreement to cover Prolaris Myriad Genetics announced that it has signed a three-year contract with Tufts Health Plan through which the plan will provide coverage of Prolaris for members diagnosed with localized prostate cancer. Prolaris is the first and only biopsy test validated against prostate cancer specific mortality. Tufts Health Plan is a leading health plan in the Northeast with more than one million members. Tufts Health Plan's members will benefit from this agreement, which is designed to drive optimal treatment because men can confidently pursue active surveillance for tumors identified as being less aggressive with Myriad's extensively validated Prolaris combined score. Recent data show that many men realize no benefit from interventional treatment, and many suffer needlessly from the side effects associated with radical prostatectomy and radiation.