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Myriad Genetics Inc MYGN Stock Quote

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NASDAQ:MYGN

Morningstar‘s Stock Analysis MYGN

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No-Moat Myriad Genetics Slightly Undervalued; Bringing FVE Estimate Down to $18.50

Karen Andersen, CFA Sector Strategist

Business Strategy and Outlook

| Karen Andersen, CFA |

Myriad Genetics started out as the monopoly in hereditary breast cancer diagnostics. Its oldest test was BRACAnalysis, a predictive test for mutations tied to an increased risk of hereditary breast or ovarian cancer. It had exclusive testing rights with patents on isolated BRCA1 and BRCA2 genes until a 2013 Supreme Court decision ruled that isolated DNA cannot be patented, stripping away the company's intellectual property in its hereditary cancer suite. Since then, Myriad has tried to pivot to a more diverse diagnostic portfolio that builds on its expertise in hereditary diagnostics while moving into new markets, including hereditary predisposition for a range of cancers, noninvasive prenatal testing, and efficacy of drugs for depression.

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Company Profile MYGN

Business Description

Myriad Genetics is a molecular diagnostics company that 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 eight 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; Prequel, with is a noninvasive prenatal test; and Prolaris, which identifies prostate cancer patients that can pursue active surveillance. The firm offers biomarker discovery and companion diagnostic services to pharma and biotech companies

Contact
320 Wakara Way
Salt Lake City, UT, 84108
T +1 801 584-3600
Industry Diagnostics & Research
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 2,400

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