Benchmark Maintains a 'Hold' on Myriad Genetics (MYGN); Raises Price Target
MYGN Hot Sheet
Rating Summary:6 Buy, 7 Hold, 0 Sell
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Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Benchmark maintains a 'Hold' rating on Myriad Genetics (Nasdaq: MYGN), raises price target from $25 to $30.
Benchmark analyst says, "We are raising our price target for MYGN shares to $30 from $25 to reflect increased confidence in MoDx revenue growth...The Company suggested it is comfortable with estimates of $392m in MoDx revenue for FY2010. The Company has added 50 additional OB/GYN sales reps (bringing the total to 150 OB/GYN reps and 150 oncology reps). Additionally, MYGN is further initiating DTC, DTP, and mailing programs to consumers. After two quarters of relatively flat sales, the Company still needs to show signs of growth to prevent further multiple compression. We expect the currentquarter to be challenging given typically slow summer months attributed to fewer patient visits."
To see more analyst ratings on MYGN Click Here.
Myriad Genetics, Inc., a healthcare company, focuses on the development and marketing of novel molecular diagnostic products.
Benchmark analyst says, "We are raising our price target for MYGN shares to $30 from $25 to reflect increased confidence in MoDx revenue growth...The Company suggested it is comfortable with estimates of $392m in MoDx revenue for FY2010. The Company has added 50 additional OB/GYN sales reps (bringing the total to 150 OB/GYN reps and 150 oncology reps). Additionally, MYGN is further initiating DTC, DTP, and mailing programs to consumers. After two quarters of relatively flat sales, the Company still needs to show signs of growth to prevent further multiple compression. We expect the currentquarter to be challenging given typically slow summer months attributed to fewer patient visits."
To see more analyst ratings on MYGN Click Here.
Myriad Genetics, Inc., a healthcare company, focuses on the development and marketing of novel molecular diagnostic products.
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