Auriga Maintains a 'Hold' on Myriad Genetics (MYGN); Q4 Results Review: A Good Performance; Ramping Investment in FY12

Auriga maintains a 'Hold' on Myriad Genetics (NASDAQ: MYGN), price target lowered from $25 to $21.

Auriga analyst says, "Yesterday, MYGN reported F4Q11 revenue of $107MM, $2MM ahead of our estimate and consensus. EPS of $0.30 also came in a penny better than both consensus and our estimate. BRACAnalysis grew 12% Y/Y, with 11% coming higher sample volumes and 1% from price. MYGN's stable of other tests (six in all) generated $12.5MM in revenue and grew +10%. FY12 revenue bracketed consensus and assumes the MDx business grows 5%-10% (essentially all volume). Mid-point of EPS guidance ($1.20 to $1.25) was below consensus ($1.25) as MYGN plans to ramp commercial and clinical investment. In our view, MYGN is making the necessary and proper investments, however the top line pay off is not likely to materialize until FY13."

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 $17.91 yesterday.

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