Auriga Upgrades Myriad Genetics (MYGN) to Buy; Patience Will Be Rewarded
Tweet Send to a FriendGet Alerts MYGN Hot Sheet
Price: $26.90 +1.74%
Rating Summary:
8 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
8 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade MYGN Now!
Auriga upgraded Myriad Genetics (NASDAQ: MYGN) to Buy with a price target of $24.00.
Auriga analyst says, "For Myriad, FY12 should be a solid year -- guidance looks conservative and achievable, the sales force is being expanded, two new tests will be launched, Europe will go live and its pipeline of new tests should continue to advance. In the near-term, MYGN's FY12 guidance looks conservative and we would not be surprised to see shares appreciate as higher BRACAnalysis sales, continued growth in other tests, and news flow around Prolaris drive renewed interest in MYGN shares. While we see some challenges from the broader economy, we believe MYGN's current valuation and cash position (~$5/share) provide a measure of downside protection."
For more ratings news on Myriad Genetics click here and for the rating history of Myriad Genetics click here.
Shares of Myriad Genetics closed at $18.20 yesterday, with a 52 week range of $15.80-$25.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Auriga analyst says, "For Myriad, FY12 should be a solid year -- guidance looks conservative and achievable, the sales force is being expanded, two new tests will be launched, Europe will go live and its pipeline of new tests should continue to advance. In the near-term, MYGN's FY12 guidance looks conservative and we would not be surprised to see shares appreciate as higher BRACAnalysis sales, continued growth in other tests, and news flow around Prolaris drive renewed interest in MYGN shares. While we see some challenges from the broader economy, we believe MYGN's current valuation and cash position (~$5/share) provide a measure of downside protection."
For more ratings news on Myriad Genetics click here and for the rating history of Myriad Genetics click here.
Shares of Myriad Genetics closed at $18.20 yesterday, with a 52 week range of $15.80-$25.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- UPDATE: Bernstein Cuts BlackBerry (BBRY) to Underperform; Notes Weak BB10 Traction
Create E-mail Alert Related Categories
UpgradesRelated Entities
Auriga
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
