Leerink Swann Upgrades Myriad Genetics (MYGN) to Outperform; Growth Prospects Good, Risks Overdone

May 21, 2012 7:57 AM EDT Send to a Friend
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Price: $35.79 -1.73%

Rating Summary:
    6 Buy, 16 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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Leerink Swann upgraded Myriad Genetics (NASDAQ: MYGN) from Market Perform to Outperform, price target range raised from $27-30 to $30-31.

Analyst, Dan Leonard, said, "Following recent due diligence, which included several calls with MEDACorp clinicians and reimbursement specialists, as well as literature review, we are upgrading MYGN’s stock to Outperform. Key to our investment thesis is a view that: 1) the overhangs related to MYGN’s reimbursement and IP risks are overdone, and 2) MYGN’s core BRACAnalysis and COLARIS product lines should continue to grow."

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 $24.54 yesterday.


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