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."

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Shares of Myriad Genetics closed at $36.89 yesterday.