BTIG Gives a Buy Rating to Myriad Genetics


In a report released yesterday, Sung Ji Nam from BTIG assigned a Buy rating to Myriad Genetics (NASDAQ: MYGN), with a price target of $42. The company’s shares closed yesterday at $37.55.

Ji Nam commented:

“through Counsyl Acquisition Yesterday, MYGN announced definitive agreement to acquire privately- held Counsyl, Inc. for $375mm in cash and MYGN common stock. Counsyl is the market leader in expanded carrier screening, has rapidly growing non-invasive prenatal testing (NIPT) business, and also provides hereditary cancer testing services (based on Counsyl’s website). Counsyl generated over $134mm in LTM revenues, and performed over 280K genetic tests. While we look for the detailed strategic rationale for the acquisition on the 7:30 AM Eastern conference call, the combined company is expected to be the largest women’s health genetic testing company in the world with ~305 sales reps (~225 MYGN + ~80 Counsyl) targeting ~40,000 physicians in the women’s health market.”

According to TipRanks.com, Nam is a 4-star analyst with an average return of 5.4% and a 70.4% success rate. Nam covers the Healthcare sector, focusing on stocks such as Oxford Immunotec, Thermo Fisher, and Quotient Ltd.

Myriad Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $36.33.

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Myriad Genetics’ market cap is currently $2.62B and has a P/E ratio of 19.26. The company has a Price to Book ratio of 2.77.

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Myriad Genetics, Inc. engages in the discovery, development, and marketing of transformative molecular diagnostic test. It operates through two segments: Diagnostics and Other.

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