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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:40 EDTGHDX, MYGN, TROV, SQNMMyriad 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
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April 8, 2014
11:08 EDTTROVTrovagene says diagnostic platform demonstrates ability to monitor mutations
Clinical study results presented at the American Association for Cancer Research Annual Meeting demonstrate the ability of Trovagene's molecular diagnostic platform to detect and monitor BRAF V600E mutations in cancer patients, the company said. Of the 33 patients enrolled in the study, Trovagene's BRAF V600E oncogene mutation assay was able to identify the mutation in 29 patients, or 88%, at any time point during the study, demonstrating a high level of concordance with tissue biopsy. In addition, 25 of the 33 patients, or 76%, were positively identified for the mutation with their first urine sample. Mark Erlander, Ph.D., chief scientific officer of Trovagene, stated, "The concordance shown between our platform and tissue biopsy in this study are encouraging, especially when we consider that different patients will show response to treatments at different times."
07:22 EDTSQNMCaSA-ISPE to hold a conference
21st Annual Lilfe Sciences Technology Conference is being held in Raleigh, North Carolina on April 8.
April 7, 2014
16:34 EDTMYGNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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11:09 EDTMYGNMyriad Genetics advises prior BRACAnalysis news release be disregarded
Myriad Genetics advised that readers should disregard the news release, "Myriad Genetics Submits Premarket Approval to FDA for BRACAnalysis" issued April 7 by the company over GlobeNewswire.
10:16 EDTMYGNMyriad Genetics has a conference call hosted by JPMorgan
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07:27 EDTTROVAmerican Association of Cancer Research to hold annual meeting
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05:48 EDTMYGNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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April 4, 2014
11:07 EDTMYGNMyriad Genetics price target raised to $42 from $34 at Piper Jaffray
Piper Jaffray raised its price target for Myriad Genetics shares to $42 to reflect CMS' recent decision to increase BRCA reimbursement. The firm keeps an Overweight rating on the stock.
10:02 EDTMYGNOn The Fly: Analyst Upgrade Summary
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06:48 EDTMYGNMyriad Genetics upgraded to Buy from Neutral at Mizuho
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06:46 EDTMYGNMyriad Genetics upgraded to Buy from Neutral at Mizuho

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