Auriga Reiterates a 'Buy' on Myriad Genetics (MYGN); Raising PT on Strong Results
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Price: $32.93 -0.6%
Rating Summary:
10 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
10 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MYGN Now!
Auriga reiterates a 'Buy' on Myriad Genetics (NASDAQ: MYGN) price target raised to $31.00.
Analyst, Peter McDonald, said, "MYGN reported F3Q12 revenue of $130MM, well ahead of our $119MM estimate and consensus of $115MM. EPS of $0.34 also came in ahead of both consensus ($0.31) and our estimate ($0.32). BRACAnalysis grew 17% Y/Y, as MYGN continued investment in its sales force and continued uptake in new settings boosted demand. Colaris/Colaris AP revenue grew 51% Y/Y as the addition of the fourth gene (PMS2) and an expanded sales force continue to enhance uptake. MYGN's other tests (six in all) generated $6MM in revenue (+34%). MYGN once again increased FY12 revenue and EPS guidance. Overall, MYGN continues to put up very solid results and is executing well on its plans to diversify its product portfolio. We expect continued uptake of new tests, European sales ramp, and news flow around Prolaris to drive interest in MYGN shares in FY13."
For an analyst ratings summary and ratings history on Myriad Genetics click here. For more ratings news on Myriad Genetics click here.
Shares of Myriad Genetics closed at $25.97 yesterday, with a 52 week range of $17.51-$26.79.
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Analyst, Peter McDonald, said, "MYGN reported F3Q12 revenue of $130MM, well ahead of our $119MM estimate and consensus of $115MM. EPS of $0.34 also came in ahead of both consensus ($0.31) and our estimate ($0.32). BRACAnalysis grew 17% Y/Y, as MYGN continued investment in its sales force and continued uptake in new settings boosted demand. Colaris/Colaris AP revenue grew 51% Y/Y as the addition of the fourth gene (PMS2) and an expanded sales force continue to enhance uptake. MYGN's other tests (six in all) generated $6MM in revenue (+34%). MYGN once again increased FY12 revenue and EPS guidance. Overall, MYGN continues to put up very solid results and is executing well on its plans to diversify its product portfolio. We expect continued uptake of new tests, European sales ramp, and news flow around Prolaris to drive interest in MYGN shares in FY13."
For an analyst ratings summary and ratings history on Myriad Genetics click here. For more ratings news on Myriad Genetics click here.
Shares of Myriad Genetics closed at $25.97 yesterday, with a 52 week range of $17.51-$26.79.
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