Myriad Genetics' (MYGN) flagship product, Bracanalysis, has been recording robust growth over the past few quarters. Moreover, the company is undertaking strategies to expand the scope of the test. A strong cash balance enables the company to buyback shares, expand into new markets and introduce more products.
Moreover, the acquisition of RMB will help diversify Myriad's diagnostics portfolio and further strengthen its position in the companion diagnostics space. The company's strategy of expanding into Europe is also encouraging.
Although the economic environment has improved, any hiccup in the recovery process will be a dampener for the stock. Based on the strong growth potential of Myriad, we upgrade the stock to Outperform.
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