Morgan Stanley Comments On Myriad Genetics Strong 3Q

According to Morgan Stanley, Myriad Genetics MYGN saw a strong 3Q. Morgan Stanley said that an unexpected growth mix from oncology acceleration (~14% vs 5-6% in FY1H11) raises questions about sustainability, which will be the primary debate exiting the quarter. “Guidance implies some diminution of 3Q's strength and the consensus view remains that oncology is Myriad's more mature franchise. Regardless, top-line upside and a positive guidance revision after a string of difficult or in-line quarters should send the stock higher. By contrast, Women's Health was below our expectations, decelerating despite an improving OB-GYN utilization environment, suggesting non-cyclical issues remain and investments here are yet to take hold.” Myriad Genetics closed yesterday at $21.34.