UBS Reiterates Neutral Rating on Myriad Genetics (MYGN)

UBS analyst Lu Li reiterated a Neutral rating and $6.00 price target on Myriad Genetics (NASDAQ: MYGN).

The analyst commented, "When we asked about why disclose the updated strategy without full details, mgmt. explained that while they were still developing details, they wanted to provide clarity internally and execute the strategy in a controlled way. Mgmt. believes that there is a clear distinction in this updated strategy vs. prior mgmt view of "every parts equal", although it will take time to execute and get reflected on the P&L. The team emphasized the focus on Cancer Care Continuum (CCC) going forward and noted that current level of R&D investment should be sufficient to keep Prenatal and GeneSight businesses to grow at or above market."

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 $5.71 yesterday.

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