Myriad Genetics initiated with a Neutral at UBS

UBS initiated coverage of Myriad Genetics (MYGN) with a Neutral rating and $18 price target The analyst believes Myriad’s growth profile has improved versus historical trends, but says GeneSight reimbursement remains a stock overhang in the near term. It continues to see growth momentum in hereditary cancer and prenatal businesses, but expects the company’s total revenue growth to normalize at high single-digits beyond 2025 versus management expectations of double-digits as tailwinds from competitors exiting the market should end by 2025.