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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 companyís 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: Myriadís competitors include Sequenom (SQNM), TrovaGene (TROV), and Genomic Health (GHDX).
News For MYGN;SQNM;TROV;GHDX From The Last 14 Days
Check below for free stories on MYGN;SQNM;TROV;GHDX the last two weeks.
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August 25, 2014
11:13 EDTTROVTrovagene data increases IP monetization potential, says Maxim
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08:10 EDTTROVTrovagene presents urine-based HPV assay clinical results
Trovagene announced that results from two independent clinical studies were presented at the 29th International Papillomavirus Conference. Results from both pilot studies consistently demonstrated that the company's urine-based assay for the detection of high-risk HPV had high sensitivity for identifying women with high grade cervical intraepithelial neoplasia. Assay performance was comparable to traditional HPV testing with commercially available tests in patient-matched cervical samples. In one of these studies, urine collection has been examined to establish standardization of urine as a clinical specimen for high-risk HPV testing. In an oral presentation entitled "Evaluation of Two Urine-Based HPV Assays In Comparison to Cervical HPV Detection and High-Grade CIN Among Women Attending a Colposcopy Clinic," results from a population-based National Cancer Institute study, conducted at the University of Oklahoma Health Sciences Center, were released. A second presentation entitled "A Comparison of Urine Collection Times for the Detection of High-Risk HPV Infection in Women" included results from a study conducted at University of North Carolina, Chapel Hill. The company said, "The positive study results presented at the IPV Conference are very encouraging as we continue to conduct clinical studies to evaluate the performance of our urine-based high-risk HPV assay as a viable alternative to conventional HPV testing from a cervical specimen. A significantly larger, blinded study which compares sensitivity of detecting high-risk HPV in patients with CIN2/3 in urine versus cervical samples is ongoing and results will be reported by 1Q15."
August 24, 2014
21:54 EDTSQNMPiper Jaffray to hold a bus tour
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August 19, 2014
11:32 EDTSQNMLabCorp prenatal test a negative for Sequenom, says Maxim
Maxim views LabCorp's (LH) announcement today that it will begin offering the informaSeq prenatal test as a long-term negative for Sequenom (SQNM) due to increased competition. The news is also negative for Illumina (ILMN) and PerkinElmer (PKI), who both offer Non-Invasive Prenatal Tests, Maxim adds. The firm recommends buying shares of LabCorp and keeps a Buy rating on the name with a $130 price target.
August 18, 2014
07:59 EDTTROVTrovagene current levels offer buying opportunity, says Maxim
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