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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:40 EDTMYGN, SQNM, TROV, GHDXMyriad Genetics rallies after buying rival, increasing 2014 outlook
Shares of molecular diagnostic company Myriad Genetics (MYGN) are climbing after the company reported second quarter results that beat consensus expectations, raised its fiscal 2014 outlook, and announced an acquisition. WHAT'S NEW: Last night, Myriad Genetics reported second quarter earnings per share of 66c and revenue of $204.1M, easily topping analysts' consensus expectations of 46c and $176.02M, respectively. The company raised its FY14 EPS view to $2.09-$2.14 from $1.92-$1.97, and boosted its FY14 revenue outlook to $740M-$750M from $700M-$715M. FY14 consensus estimates were $1.97 and $705.62M prior to the company's announcement. In addition, the company said it has a definitive agreement to acquire rival Crescendo Bioscience for $270M in cash. ANALYST REACTION: This morning, analyst commentary was mixed. Research firm JMP Securities upgraded Myriad Genetics to Market Perform from Underperform citing the company’s stronger than expected results. Conversely, Ladenburg downgraded Myriad to Neutral from Buy, citing valuation. PRICE ACTION: In late morning trading, Myriad rose $2.72, or 10%, to $29.90 on more than twice its average daily trading volume. The stock is up about 10% over the past twelve months. OTHERS TO WATCH: Myriad’s competitors include Sequenom (SQNM), TrovaGene (TROV), and Genomic Health (GHDX).
News For MYGN;SQNM;TROV;GHDX From The Last 14 Days
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September 17, 2014
11:57 EDTSQNMSequenom management to meet with Maxim
Meetings to be held in New York on September 22 with a group luncheon also and in Boston on September 23 hosted by Maxim.
September 16, 2014
10:44 EDTSQNMSequenom lost Inter Partes Review to Ariosa, says Piper Jaffray
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September 9, 2014
08:05 EDTGHDXGenomic Health to present positive results from nine studies of Oncotype DX
Genomic Health announced that results from nine studies of Oncotype DX in prostate, breast and renal cancers will be presented at the European Society for Medical Oncology, or ESMO, 2014 Congress in Madrid, September 26 – 30. Included in the program is the first presentation of strongly positive results from an additional large independent clinical validation study of the Oncotype DX prostate cancer test, conducted in collaboration with the Center for Prostate Disease Research, Rockville. This new study demonstrates the test's ability to predict a rise in prostate-specific antigen, or PSA, following surgery and reconfirms Oncotype DX as a predictor of adverse pathology from the biopsy, as previously demonstrated in a published validation study performed by the University of California, San Francisco.
07:11 EDTMYGNMyriad Genetics presented results from myPath Melanoma test clinical study
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