UPDATE: Cantor Fitzgerald Initiates Coverage on Myriad Genetics on Position in Molecular Diagnostic Franchises

In a report published on Friday, analysts at Cantor Fitzgerald initiated coverage on Myriad Genetics MYGN with a Buy rating and $40 PT. In the report, lead analyst Sung Ji Nam commented that, "We are initiating coverage of MYGN with a BUY rating and $40 PT. With its current flagship product BRACAnalysis, MYGN has built one of the most successful, high-value molecular diagnostic franchises (~$500mm business), and we believe the company is well-positioned to execute industry-leading growth (top and bottom lines) over the next several years, driven by its competitive product portfolio and pipeline, as well as unmatched capabilities in diagnostic research, market development and commercialization capabilities." Myriad Genetics closed on Thursday at $31.06