Myriad Genetics Shares Popped: What You Need to Know (MYGN)

Myriad Genetics Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Myriad Genetics (Nasdaq: MYGN ) opened nearly 18% higher this morning, before giving most of it back. The company reported earnings last night.

So what: First-quarter revenue clocked a 20% jump, to $110.5 million, while earnings per share came in at $0.29. Both figures were ahead of expectations, as the Street was looking for $106.5 million in revenue and $0.28-per-share profit.

Now what: Full-year revenue is expected in the range of $445 million to $465 million, with earnings per share between $1.20 and $1.25. Molecular diagnostic revenue will comprise the bulk of sales, and is expected to be in the range of $421 million to $439 million. Following the strong results, Ticonderoga has upgraded the stock from neutral to buy, with a price target of $25.

Interested in more info on Myriad Genetics? Add it to your watchlist by clicking here.

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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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