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Myriad Genetics Earnings Preview (MYGN)

Myriad Genetics Inc.   (MYGN) 

Background:Myriad Genetics, Inc., a molecular diagnostic company, focuses on the development and marketing of predictive medicine, personalized medicine, and prognostic medicine tests primarily in the United States. Myriad Genetics shares trade an average of 637,000 shares per day and has a marketcap of $2 billion.

The upcoming first-quarter earnings is highly anticipated by hopeful investors expecting an earnings growth report after the market closes on November 5, 2012.

The Analyst's mean profit appraisal is presently 32 cents a share, a gain of 3 cents (9.4%) from 29 cents during the corresponding quarter last year. Estimates from analysts range from a low of 30 cents per share, up to the highest estimate of 34 cents per share.

Over half the analysts covering Myriad Genetics rate it as a buy or strong buy. 13 of the 20 analysts covering the company give a buy recommendation. 7 analysts rate it a hold, and none of the analysts recommend selling. Analysts overall have called this one correctly. In the last 12 months, the shares have accelerated higher. The one year return is 20%. The average analyst current target price for Myriad Genetics is $29.82.

With short interest above 5%, investors will want to monitor changes to know if short sellers turn up the warning signals. Otherwise, the current 5.2% of the float short is relatively small and not a major concern.


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Stock Tickers: MYGN Author Disclosure: NA
Myriad Genetics Inc.
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