Stephens analyst Mason Carrico notes that CMS has published a new billing and coding document related to molecular testing for solid organ allograft rejection, which it says "at first blush" appears "clearly negative" for CareDx. The criteria to receive payment in the document appears to be more restrictive than the criteria that is currently in place, said the firm, which offered its "quick thoughts" and promised investors "more detailed thoughts out after more thoroughly examining the document." Stephens has an Overweight rating and $19 price target on CareDx shares, which are down $5.97, or 37%, to $10.03 in Thursday afternoon trading.
Published first on TheFly
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