Myriad reiterated at buy by JMP

Myriad Genetics Inc. was reiterated at a strong buy rating with a $29 price target by JMP Securities analyst Charles C. Duncan. While a Wall Street Journal article questions the accuracy of Myriad's BRCAnalysis in regards to the misdiagnoses of high-risk breast cancer patients. JMP questions the article's accuracy and bias. The analyst sees the data applicable to a much smaller population than the article alludes to, and does not see a reduction in demand for the analysis. Shares of the Salt Lake City biopharmaceutical company were down $1.56, or 5.72%, at $25.69 on volume of 2,813,374 shares versus the three-month running average of 362,738 shares. (Nasdaq: MYGN)

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