Jefferies Remains Sidelined on Myriad Genetics (MYGN) Following 4Q

August 11, 2016 8:37 AM EDT
Get Alerts MYGN Hot Sheet
Price: $17.31 --0%

Rating Summary:
    7 Buy, 16 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 18 | New: 12
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Jefferies maintained a Hold rating on Myriad Genetics (NASDAQ: MYGN), and cut the price target to $20.00 (from $34.00), following the company's 4Q earnings report. The company's weaker 4Q16 experience (-7%) and initial FY17 outlook for the HC segment (-7%) suggest pricing and share losses are likely the new normal as the market migrates to lower-cost alternatives.

Analyst Brandon Couillard commented, "We are publishing our updated MYGN model following the 4Q earnings report & lowering our FY17/18 EPS forecasts by ~35%. Our revised $20 PT (from $34) implies a -2% NOPAT CAGR over the next decade, reflecting accelerating ASP/ share pressures in its flagship hereditary cancer franchise."

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 $19.70 yesterday.



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