Barclays downgrades Myriad to Underweight near 18-year high

Barclays analyst Jack Meehan downgraded Myriad Genetics to Underweight from Equal Weight and cut his price target for the shares to $30 from $38. With the stock near an 18-year high, several company risks create an unfavorable risk/reward profile, Meehan tells investors in a research note. He sees “several risks” around the GeneSight Randomized Control Trial, which he thinks present risks for payor coverage. Further, the analyst is cautious around the sustainability of hereditary cancer testing pricing longer term.
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