GTBP - IRhythm extends losses as more downgrades pile up Aphria cut to neutral after earnings miss; and more in today's analyst action

iRhythm continues to trade lower as analysts evaluate the impact of Novitas rate update on the company. Meanwhile, the recent FDA approvals have led Truist Securities to upgrade Bristol Myers.iRhythm downgraded at BTIG on uncertain outlookThe revision of Novitas reimbursement rates disappointed iRhythm (IRTC) investors yesterday with the stock losing ~39.5%.Today, BTIG has downgraded the stock to neutral from buy. Despite attempts by iRhythm to seek better rates, the analyst paints an uncertain outlook for the company.Issuing a press release iRhythm said it would continue to work with Novitas and other MACs regarding the ZioXT service which has now been affected by the rate update.Yesterday, JP Morgan downgraded the stock to neutral from overweight. iRhythm is trading 2.0% lower in the pre-market.Bristol Myers raised to buy on pipeline progressBristol Myers (BMY) has added ~0.6% in before hours after Truist upgraded the stock to buy from hold with the price target of $74.00 per share implying ~18.0% upside to

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IRhythm extends losses as more downgrades pile up, Aphria cut to neutral after earnings miss; and more in today’s analyst action