Market Overview

UPDATE: Bank of America Upgrades Myriad Genetics to Buy on Diversification Strategy

Share:
Related MYGN
Deutsche Bank Optimistic On Fundamentals In Life Science Tools/Diagnostics Sector
Medicare Decisions For Myriad Present A Mixed Bag

Bank of America raised its rating on Myriad Genetics (NASDAQ: MYGN) from Neutral to Buy and increased its price objective from $30 to $32.

Bank of America commented, "We upgrade MYGN shares to Buy from Neutral, as we are more positive on the company's efforts to diversify the business and expand its addressable markets, particularly as the company's flagship product, BRACAnalysis, matures. We think MYGN's strategy to increase its penetration in certain cancer indications while expanding overseas is viable, and are more optimistic on the ability to protect the BRACAnalysis franchise. We are also incrementally more positive on Prolaris and the pipeline, as well as the company's efforts in companion diagnostics."

Myriad Genetics closed at $25.37 on Tuesday.

Latest Ratings for MYGN

DateFirmActionFromTo
Jan 2017Deutsche BankInitiates Coverage OnSell
Nov 2016Stephens & Co.DowngradesOverweightEqual-Weight
Oct 2016BarclaysMaintainsEqual-weight

View More Analyst Ratings for MYGN
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (MYGN)

View Comments and Join the Discussion!