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Myriad Genetics: United Rheumatology Selects Vectra DA Test
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Myriad Genetics, Inc.’s (MYGN - Free Report) subsidiary, Crescendo Bioscience recently announced that its Vectra DA assay has been added by United Rheumatology to its clinical practice guidelines for adults with rheumatoid arthritis (RA). United Rheumatology is a leading professional organization for rheumatologists in the U.S. The guidelines are designed to assist United Rheumatology healthcare professionals in the diagnosis, treatment and monitoring of patients with RA to preserve function, improve quality of life and monitor results safely and in a cost-effective way.
RA is a chronic disease in which the body’s immune system inadvertently attacks the joints. This causes inflammation that leads to pain in and around the joints. Over a prolonged period of time, the swelling around the joints can lead to bone erosion and joint deformity. The disease may also affect other parts of the body.
In the last three months, Myriad Genetics’ share price traded neck to neck with the Zacks categorized Medical-Biomed/Genetics industry. However, the mixed first-quarter fiscal 2017 results disrupted the trend, sending the stock down 18.6% as compared to the industry’s 2.5% gain.
On a positive note, Myriad Genetics saw growth in its testing revenues in the first quarter. Reportedly, Vectra DA testing revenues grew 2% to $11.6 million. We expect the addition of the assay by United Rheumatology to bolster the share price in the near term.
Coming back to the news, it is to be noted that Vectra DA is the first and sole multi-biomarker blood test to detect radiographic progression. The test integrates the concentrations of 12 serum proteins associated with RA disease activity to help physicians make more informed treatment decisions.
Multiple studies have demonstrated the usefulness of Vectra DA with more than 3,000 patients. The clinical evidences of Vectra DA have been widely recognized as a number of practicing rheumatologists have ordered the test for their patients in the U.S.
As per a Persistence Market Research analysis, the global rheumatoid arthritis diagnosis tests market is estimated to reach a worth of $738.7 million by 2022, at a CAGR of 6.2%. The recommendation of the Vectra DA test by United Rheumatology for RA treatment in adults would further help Myriad Genetics gain traction in this market.
During the recently concluded first quarter of fiscal 2017, Myriad Genetics has made remarkable development with its Vectra DA product. In terms of reimbursement, management for the assay had signed its first five commercial payers, representing 3 million additional covered lives. The RA test kit has a global addressable market of $3 billion and a current reimburse market of $600 million in the U.S.
Zacks Rank & Key Picks
Myriad Genetics carries a Zacks Rank #3 (Hold). Better-ranked medical stocks are NxStage Medical Inc. , Baxter International Inc. (BAX - Free Report) and Bovie Medical Corporation . NxStage Medical and Baxter International sport a Zacks Rank #1 (Strong Buy) while Bovie Medical carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
NxStage Medical gained 14% over the last one year compared to the S&P 500’s 9.7%. The company has a four-quarter average positive earnings surprise of 46.3%.
Baxter International rallied 15.7% over the last one year, much higher than the S&P 500. It has a trailing four-quarter average positive earnings surprise of 27%.
Bovie Medical recorded a 95.9% gain in the past one year, way better than the S&P 500. The company has a trailing four-quarter positive average earnings surprise of 28.7%.
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Myriad Genetics: United Rheumatology Selects Vectra DA Test
Myriad Genetics, Inc.’s (MYGN - Free Report) subsidiary, Crescendo Bioscience recently announced that its Vectra DA assay has been added by United Rheumatology to its clinical practice guidelines for adults with rheumatoid arthritis (RA). United Rheumatology is a leading professional organization for rheumatologists in the U.S. The guidelines are designed to assist United Rheumatology healthcare professionals in the diagnosis, treatment and monitoring of patients with RA to preserve function, improve quality of life and monitor results safely and in a cost-effective way.
RA is a chronic disease in which the body’s immune system inadvertently attacks the joints. This causes inflammation that leads to pain in and around the joints. Over a prolonged period of time, the swelling around the joints can lead to bone erosion and joint deformity. The disease may also affect other parts of the body.
In the last three months, Myriad Genetics’ share price traded neck to neck with the Zacks categorized Medical-Biomed/Genetics industry. However, the mixed first-quarter fiscal 2017 results disrupted the trend, sending the stock down 18.6% as compared to the industry’s 2.5% gain.
On a positive note, Myriad Genetics saw growth in its testing revenues in the first quarter. Reportedly, Vectra DA testing revenues grew 2% to $11.6 million. We expect the addition of the assay by United Rheumatology to bolster the share price in the near term.
Coming back to the news, it is to be noted that Vectra DA is the first and sole multi-biomarker blood test to detect radiographic progression. The test integrates the concentrations of 12 serum proteins associated with RA disease activity to help physicians make more informed treatment decisions.
Multiple studies have demonstrated the usefulness of Vectra DA with more than 3,000 patients. The clinical evidences of Vectra DA have been widely recognized as a number of practicing rheumatologists have ordered the test for their patients in the U.S.
MYRIAD GENETICS Price
MYRIAD GENETICS Price | MYRIAD GENETICS Quote
As per a Persistence Market Research analysis, the global rheumatoid arthritis diagnosis tests market is estimated to reach a worth of $738.7 million by 2022, at a CAGR of 6.2%. The recommendation of the Vectra DA test by United Rheumatology for RA treatment in adults would further help Myriad Genetics gain traction in this market.
During the recently concluded first quarter of fiscal 2017, Myriad Genetics has made remarkable development with its Vectra DA product. In terms of reimbursement, management for the assay had signed its first five commercial payers, representing 3 million additional covered lives. The RA test kit has a global addressable market of $3 billion and a current reimburse market of $600 million in the U.S.
Zacks Rank & Key Picks
Myriad Genetics carries a Zacks Rank #3 (Hold). Better-ranked medical stocks are NxStage Medical Inc. , Baxter International Inc. (BAX - Free Report) and Bovie Medical Corporation . NxStage Medical and Baxter International sport a Zacks Rank #1 (Strong Buy) while Bovie Medical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NxStage Medical gained 14% over the last one year compared to the S&P 500’s 9.7%. The company has a four-quarter average positive earnings surprise of 46.3%.
Baxter International rallied 15.7% over the last one year, much higher than the S&P 500. It has a trailing four-quarter average positive earnings surprise of 27%.
Bovie Medical recorded a 95.9% gain in the past one year, way better than the S&P 500. The company has a trailing four-quarter positive average earnings surprise of 28.7%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>