The firm mentioned the following three aspects as key elements for the bear case:
- The pressure from the new competition in HCT
- The existence of lower-cost alternatives on the market
- The rigorous review from physicians and managed care payors for new products
After meeting with the company's management last week, the analysts reported no major change in fundamentals took place since the September Analyst Day. According to Barclays, the company still believes the hereditary cancer franchise will probably grow at a +3 percent CAGR. "Prolaris is showing both volume and payor momentum. myChoice HRD earned positive validation last week with Tesaro's strong Phase III data. Finally, both Vectra DA and myPath Melanoma continue to make progress on scientific validation which could lead to payor discussions in FY2017," said Barclays.
The bank currently has an Overweight rating on Myriad with a $50 price target.
At time of writing, Myriad was trading up 0.45 percent at $30.91.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.