Piper Sandler has actually updated Multitude Genes MYGN, a molecular diagnostic screening and accuracy medication business.
Expert David Westenberg states Multitude Genes’ management group set an extremely aggressive LRP. Ever since, 2 occasions– the loss of a personal payer’s repayment on Genesight and an NCCN standard language modification– have actually caused an over 50% decrease in the stock in the last 6 months.
Westenberg composes that Multitude Genes runs the risk of missing this year’s assistance and may require to set 2026 expectations listed below the LRP.
” We believe Multitude’s greatest staying possible disadvantage is expectations set by a previous CEO, and our company believe the stock will discover a bottom around this ~ 1x profits variety,” Piper Sandler composes.
Likewise Check Out: Multitude Genes Deals With Expense Restructuring As UnitedHealthcare Ends GeneSight Protection, Appoints New CEO
BMO Capital composes Multitude Genes has actually dealt with difficulties in the urology and prostate screening market, losing some ground to Deciphera Pharmaceuticals and Veracyte VCYT over the last few years.
Nevertheless, the business has actually taken actions to stick out, consisting of a brand-new collaboration with PATHOMIQ to incorporate AI with molecular screening. Myriad Genes strategies to release a test for clients after extreme prostatectomy and radiation treatment later on this year or early next year. This test will be used together with Prolaris as a combined alternative.
Piper Sandler composes that the stock has actually supported, enabling brand-new CEO Sam Raha to improve business, set clear methods and line up expectations. The expert has actually updated the stock from Neutral to Overweight, with a rate target of $12.50, up from $11.50.
Cost Action: MYGN stock is up 2.44% at $10.50 at the last check Wednesday.
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