William Blair Maintains Outperform On Myriad Genetics Shares

In a research report issued today, William Blair analyst Amanda Murphy maintained an Outperform rating on Myriad Genetics (NASDAQ:MYGN). No price target was provided.

Murphy said, “Palmetto issued a draft LCD, which suggests coverage for very low-risk (Gleason score less than or equal to 6 and PSA of less than or equal to 10ng/ML) and low-risk (stage T1 to T2a and Gleason score less than or equal to 6 and PSA of less than or equal to 10ng/ML). There are roughly 240,000 patients diagnosed each year with prostate cancer (2.6 million men living with prostate cancer in the United States). An estimated 50% of new patients diagnosed are lower risk (roughly 120,000) and 90% get treated (108,000). Medicare represents a substantial number of prostate cancer patients (144,000 total lives, or 72,000 low-risk patients [64,800 low risk treated]). Assuming average reimbursement near $3,000, Medicare coverage would represent a $194 million market opportunity. We estimate Prolaris revenue of $10 million (7,700 patients) in fiscal 2015 and $22 million in fiscal 2016 (9,664 patients). “

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Amanda Murphy has a total average return of 1.6% and a 57.1% success rate. Murphy has a 5.1% average return when recommending MYGN, and is ranked #1907 out of 3336 analysts.

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