Myriad's 4Q Meets Our Expectations, but 2019 Guidance Disappoints; Raising FVE to $35
Myriad Genetics' full-year and fourth-quarter results were both in line with our expectations, but management's fiscal 2019 guidance, after adjusting for the acquisition of Counsyl and accounting changes, was below our expectations. As we mentioned in our last note, narrow-moat Myriad's momentum in the last few months with reimbursement wins and new product gains is building the case for a stable moat trend compared with its current negative rating. However, we'd like to see this extend into fis...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.
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