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Myriad Genetics Inc. Message Board

  • be_careful_outdere be_careful_outdere Nov 12, 2003 4:57 PM Flag

    Cuts estimates, lowers tgt 18 to 15

    Cutting Estimates, Price Target On Myriad Genetics Following Poor Q1 - First Albany Comments
    Wednesday, First Albany cut its 2004 and 2005 EPS
    estimates for Myriad Genetics, Inc. (MYGN). The brokerage also slashed its
    price target on the MYGN stock.

    These changes, according to analyst David Webber, were an effect of
    disappointing 2004 first quarter results. The analyst observed that predictive
    medicine test revenues declined sequentially for the first time ever. Myriad
    posted EPS loss of $0.35 versus the brokerage�s loss estimate of $0.37 and that
    of consensus at $0.31.

    Thus, the brokerage increased its 2004 EPS loss estimate to $1.63 from $1.59.
    Its 2005 loss estimate also increases to $1.96 from $1.86. Concluding, the
    brokerage maintains its Buy rating on the Myriad stock with its price target
    being lowered to $15 from $18.

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