Lowering Our Myriad FVE to $32.50 Due to Near-Term GeneSight Issues
Myriad Genetics' fiscal 2019 is off to a bumpy start, with a couple of reimbursement obstacles that we expect will negatively affect the firm's results in the near term. Management lowered guidance by $25 million but maintained bottom-line guidance. These included headwinds with GeneSight, a diagnostic for depression and other mental health disorders, and with prenatal testing, which Myriad acquired with Counsyl in July 2018. While Myriad's narrow economic moat, underpinned by intangible assets ...Myriad Genetics is a precision medicine company acting as a trusted advisor to transform patient lives through molecular diagnostics. The company's molecular diagnostic tests include: myRisk? Hereditary Cancer for assessing the risks for hereditary cancers; BRACAnalysis? for assessing the risk of developing breast and ovarian cancer; riskScore? that improves the company's myRisk Hereditary Cancer test; GeneSight? to support psychotropic drug selection for depressed patients; Vectra?DA for assessing the disease activity of rheumatoid arthritis; and Prolaris? for assessing the aggressiveness of prostate cancer. The company also provides pharmaceutical and clinical services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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