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Fly News Breaks for August 14, 2019
MYGN
Aug 14, 2019 | 05:01 EDT
Piper Jaffray analyst William Quirk downgraded Myriad Genetics to Neutral from Overweight and lowered his price target for the shares to $40 from $45. The company reported "disappointing" fiscal Q4 results with revenue, adjusted earnings and fiscal 2020 guidance well below consensus, Quirk tells investors in a research note. The analyst says risks to GeneSight and reimbursement pressure makes 2020 a transition year for the company. The trend of the overall business is volume growth but declining reimbursement, says Quirk.
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