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Myriad Genetics Inc MYGN

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Morningstar’s Analysis

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5-Star Price

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PREMIUM

Myriad Genetics Reports First-Quarter Results That Slightly Beat Expectations; Maintain $11 FVE

Karen Andersen, CFA Sector Strategist

Analyst Note

| Karen Andersen, CFA |

No-moat Myriad Genetics posted fiscal first-quarter results that slightly beat expectations, as disciplined cost-saving measures and better elective testing volumes helped boost its top line. The company reported a loss of $0.15 per share, and we are maintaining our fair value estimate of $11 per share.

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Company Profile

Business Description

Myriad Genetics is a molecular diagnostics company, which provides testing services designed to assess an individual’s risk of developing a disease. The firm produces myRisk, a 35-gene panel with the capability to identify the elevated risk of developing 8 types of cancer. Other diagnostic products include BRACAnalysisCDx, the FDA-approved companion diagnostic for PARP inhibitors; GeneSight, which helps improve responses to psychotropic drugs for patients suffering from depression; Vectra DA, which predicts disease progression in rheumatoid arthritis to optimize drug treatment; and Prolaris, which identifies prostate cancer patients that can pursue active surveillance. The firm also offers biomarker discovery and companion diagnostic services to pharmaceutical and biotechnology companies.

Contact
320 Wakara Way
Salt Lake City, UT, 84108
T +1 801 584-3600
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Sep 30, 2020
Fiscal Year End Jun 30, 2021
Stock Type Distressed
Employees 2,700

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