Myriad Genetics Inc. (NASDAQ:MYGN): Piper Jaffray noted that the Centers for Medicare & Medicaid Services, or CMS, announced BRACAnalysis and Colaris reimbursement levels will be determined by the gap-fill payment methodology, and preliminary reimbursement rates will released, to the public, in April of 2013, while final rates will be announced in September of 2013. Due to this news, Piper expects shares of Myriad Genetics Inc. to decline, as investors expect BRACAnalysis and Colaris to receive reimbursement rates based on cross-walking not gap-fill. Piper keeps a Neutral rating on Myriad Genetics, but said they see value at $20-$21 per share.
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CIENA Corp. (NASDAQ:CIEN): Citigroup viewed Friday’s pullback in shares of Ciena Corp. as a buying opportunity. The firm sees a compelling entry point at current levels and a Buy rating is kept on the name with a $19 price target.
IPG Photonics Corporation (NASDAQ:IPGP): After meeting with management, Piper Jaffray raised their price target for IPG Photonics Corporation, citing the secular growth in fiber lasers. The firm believes that competitive concerns remain overblown and an Overweight rating on their stock is reiterated.
Medivation, Inc. (NASDAQ:MDVN): After Xtandi won FDA approval three months earlier than expected, Jefferies raised their price target for Medivation, Inc. The firm found the drug’s label to be in-line with expectations and reiterated a Buy rating on their stock.
Medivation, Inc. (NASDAQ:MDVN): Following the approval of Xtandi, William Blair raised their price target for Medivation, Inc. An Outperform rating is reiterated on their stock.
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