Jefferies Maintains 'Hold' Rating on Myriad Genetics (MYGN) Post Q1, Estimates Lowered

Jefferies lowered estimates while maintaining a Hold rating and $37 price target on Myriad Genetics (NASDAQ: MYGN) following Q1 results.

Analyst Brandon Couillard commented, "MYGN's 1Q15 results were in line with its recent pre-release, but its initial 2Q guidance also fell well below consensus, implying a steep 2H revenue & margin ramp that will likely keep the stock in check near-term, in our view. Early myRisk demand is accelerating, but at the expense of TATs and profitability. We are trimming our FY14/FY15 EPS forecasts to $1.90 (from $1.94) and $2.00 (from $2.04), respectively."

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 $36.89 yesterday.

You May Also Be Interested In

• United Microelectronics Corp (2303:TT) (UMC) PT Lowered to NT$47 at HSBC
• William Blair Starts First Advantage (FA) at Outperform, 'Best-in-Class Background Screener'
• Roth/MKM Upgrades Albertsons Companies Inc. (ACI) to Buy, 'Fundamental Floor and Improved Deal Likelihood'