Market Overview

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

Share:
Related MYGN
Watch These 8 Huge Put Purchases In Tuesday Trade
Benzinga's Option Alert Recap From July 31
EndoPredict® Receives Positive Coverage Decisions From Medicare and Anthem (GuruFocus)

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
Aug 2017BarclaysMaintainsEqual-Weight
Feb 2017Ladenburg ThalmannUpgradesSellNeutral
Jan 2017Deutsche BankInitiates Coverage OnSell

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!