Market Overview

UPDATE: Goldman Sachs Downgrades Myriad Genetics to Neutral, Lowers PT

Share:
Related MYGN
10 Movers To Keep An Eye On This Monday
2 Small Cap Pharma Stocks Credit Suisse Loves

In a report published Monday, Goldman Sachs Group downgraded its rating on Myriad Genetics (NASDAQ: MYGN) from CL-Buy to Neutral, and lowered its price target from $34.00 to $26.00.

Goldman Sachs noted, “On November 30, 2012 the Supreme Court of the United States (SCOTUS) agreed to hear the case against MYGN (Association for Molecular Pathology v. Myriad Genetics, Inc., et al.) relating to the patentability of genes. Given this overhang, we downgrade MYGN shares to Neutral as our previous Buy thesis is now impaired. Since being added to the Americas Buy List on July 2, 2012, shares are up 13.6% versus the S&P 500 up 3.7% given better than expected revenue and EPS growth. Over the past 12 months, shares have risen 35.2% versus the S&P 500 up 13.6%.”

Myriad Genetics closed on Friday at $28.72.

Latest Ratings for MYGN

DateFirmActionFromTo
May 2015JMP SecuritiesMaintainsMarket Outperform
Mar 2015Goldman SachsDowngradesNeutralSell
Mar 2015UBSInitiates Coverage onSell

View More Analyst Ratings for MYGN
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Downgrades Analyst Ratings

 

Related Articles (MYGN)

Around the Web, We're Loving...

Get Benzinga's Newsletters