Jefferies Stays on Sidelines with Myriad (MYGN) after DNA Ruling

Jefferies reiterated a Hold rating and $31 price target on Myriad Genetics (NASDAQ: MYGN) Friday following yesterday's US Supreme Court ruling that the company's human isolated DNA patent claims are invalid, while its synthetic DNA (cDNA) claims are patent eligible.

"While the court's decision removes the legal overhang, the focus now shifts to the competitive dynamic, which already appears to be intensifying, and the slope of potential market share & pricing erosion," analyst Brandon Couillard said. "We continue to view the risk/reward as unfavorable and remain on the sidelines."

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 $32.01 yesterday.

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