NEW YORK, July 1 (newratings.com) - Analysts at Morgan Joseph downgrade Myriad Genetics Inc (NASDAQ:
MYGN -
news) (ticker: MYGN) from "buy" to
"sell." The target price is set to $24.
In a research note published this morning, the analysts mention that the company has pre-announced lower-than-expected F4Q09 revenues. Myriad Genetics has also reduced its quarter-over-quarter sales growth guidance, in view of the rising unemployment levels. The EPS estimate for CY10 has been reduced from $1.67 to $1.21.
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