UPDATE: Morgan Stanley Initiates Coverage on Myriad Genetics with Underweight Rating, $25 PT as Survey Points to Greater Share Loss

In a report published Monday, Morgan Stanley analyst Steve Beuchaw initiated coverage on

with an Underweight rating and $25.00 price target. In the report, Morgan Stanley noted, “We forecast 28% share loss and 42% price declines by '17 in the BRCA franchise, which accounts for ~95% of GP. Pipeline tests have lower margins and long timelines. Consensus EPS for '16 appears 15% high; PT $25.” Myriad Genetics closed on Friday at $34.89.