Merrill maintains Myriad buy rating

Myriad Genetics Inc. was maintained by Merrill Lynch analyst David W. Munno at buy with a $24 price objective after the company reported a 2006 first-quarter loss per share of $0.30, compared to Merrill's estimate of $0.33 and consensus loss of $0.35. Merrill attributed the improved number to higher-than-expected research revenues and predicted that a 7.5% price increase for Myriad predictive medicine tests by year-end could propel sales further. Shares of the Salt Lake City-based biotechnology company were down $0.19, or 0.90%, at $21.01 on volume of 260,032 shares versus the three-month running average of 317,233 shares.

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