Bear Stearns prices Genzyme at $79

Genzyme Corp. was rated at outperform with a $79 price target by Bear Stearns analyst Mark Schoenebaum after the company announced CMS' intention to reimburse all viscosupplementation products (including Synvisc) under a single reimbursement code. The new system would reimburse doctors per injection, putting Synvisc at a disadvantage since it only requires 3 injections per course compared to some competitors with 5 or more. Shares of the Cambridge, Mass.-based biotechnology company were down 37 cents, or 0.55%, at $67.51. (Nasdaq: GENZ)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.