Piper Jaffray Initiates Coverage on Myriad Pharmaceuticals (MYRX) with an Underweight; Pipeline Lacks Sufficient Data
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Piper Jaffray & Co. initiates coverage on Myriad Pharmaceuticals (Nasdaq: MYRX) (Nasdaq: MYRXV) with an Underweight. Price target $3.50.
Piper analyst says, "Myriad Genetics (Nasdaq: MYGN) completed the spin-out of Myriad Pharmaceuticals, which will begin trading under the ticker symbol MYRX today. Shares have been trading as MYRXV on a "when issued" basis since Friday, June 12th when the pharmaceutical division was floated as a 1/4 share dividend. We view Myriad's pipeline as speculative and are initiating coverage with an Underweight rating until we see further clinical validation."
To see more analyst ratings on MYRX Click Here.
Myriad Pharmaceuticals, Inc. (MPI) is a biopharmaceutical company focused on discovering, developing, and commercializing small molecule drugs that address severe medical conditions with, including cancer and human immunodeficiency virus (HIV) infection.
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