Myriad Genetics at strong buy by JMP

Myriad Genetics Inc. was given a strong buy rating and a $29 price target by JMP Securities analyst Charles C. Duncan. The follow-on study of Myriad Genetics' Flurizan continues to show long-term clinical benefit per data released at the American Association of Geriatric Psychiatry. The company presented positive findings from its phase 2 follow-on study in mild Alzheimer's patients. In JMP's view, the results indicate that the clinical benefit of Flurizan can be increased with long-term use in terms of both effect size and significance, which is supported by the 18-month data from the follow-on study. Shares of the Salt Lake City biopharmaceutical company were up 77 cents, or 2.92%, at $27.16 on volume of 908,738 shares versus the three-month running average of 361,925 shares. (Nasdaq: MYGN)

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