Myriad Genetics price target raised to $38 from $32 at Piper Jaffray

Piper Jaffray analyst William Quirk raised his price target for Myriad Genetics to $38 after the company reported Q4 above expectations. Management established guidance on a reported basis that appears well above consensus expectations, however when adjusting for the recent Counsyl transaction and other extraordinary items, both revenue and earnings are essentially in line, Quirk tells investors in a research note. He keeps a Neutral rating on the shares, but believes Myriad’s diversification story is in its “early stages, with significant upside potential driven by reimbursement wins.”

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