Genetic Testing Pioneer Myriad Genetics' Evolution Draws Analyst Attention Amid New Product(s) Anticipation
Portfolio Pulse from Vandana Singh
Piper Sandler initiated coverage on Myriad Genetics Inc (NASDAQ:MYGN) with a Neutral rating and a price target of $23. Myriad, known for pioneering genetic testing, particularly BRCA testing, faced challenges in the 2010s but is now positioned to regain its leadership role in laboratory genetics. The company has seen improvements in its core business and is expected to make competitive advancements in BRCA, oncology, and reproductive health testing. However, pricing pressures and competition in the hereditary cancer sector may pose minor challenges.
December 21, 2023 | 6:05 pm
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Piper Sandler initiated coverage on Myriad Genetics with a Neutral rating and a $23 price target. The company is expected to make competitive advancements but faces pricing pressures in the hereditary cancer sector.
The initiation of coverage by Piper Sandler with a Neutral rating and a price target slightly above the current stock price suggests a balanced view on Myriad Genetics' prospects. The anticipation of new product advancements could be positive, but the concerns about pricing pressures and competition may temper short-term stock performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100