Myriad Genetics reiterated at strong buy by JMP

Myriad Genetics, Inc. was reiterated by JMP Securities analyst Charles C. Duncan at strong buy and a $33 price target. The company reported strong fourth-quarter financial results in line with consensus estimates due to predictive medicine revenue, up 37% from the year-ago period. Myriad reported a net loss of $11.4 million, or $0.29 per share, in line with JMP's and the Street's expectations. The analyst raised 2007 revenue projections to $149 million, from $135 million based in part on a seasonally tough period (summer) and expected results from recently launched marketing initiatives which include education programs, direct-to-consumer advertising and contract renewals. Shares of the Salt Lake City, Utah-based biopharmaceutical company were down 4 cents, or 0.16%, at $24.86, on volume of 275,435 shares versus the three-month running average of 322,982 shares. (Nasdaq: MYGN)

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