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Myriad Genetics (MYGN) Makes Progress in Precision Oncology
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Myriad Genetics, Inc. (MYGN - Free Report) recently announced the launch of Precise Oncology Solutions — part of a wide-ranging suite combining germline, tumor and companion diagnostics in one easy-to-access solution. Since the announcement of this news, shares of Myriad Genetics have moved up 3.6% till yesterday’s close.
The Precise Oncology Solutions is a comprehensive offering intended to help oncologists determine effective and personalized treatment plans for individual patients, including evaluation for Homologous Recombination Deficiency (HRD), an important cancer repair pathway.
The latest development is likely to fortify Myriad Genetics’ Oncology business.
More on Precise Oncology Solutions
Precise Oncology Solutions includes Myriad’s new Precise Tumor Molecular Profile Test, developed in partnership with Intermountain Precision Genomics, leading healthcare providers and industry partners.
Precise Oncology Solutions includes Myriad’s two companion diagnostic tests — MyChoice CDx and BRACAnalysis CDx. MyChoice CDx is FDA-approved for patients with ovarian cancer. BRACAnalysis CDx identifies patients with a germline BRCA1/2 mutation and helps spot targeted treatment recommendations for patients with breast, ovarian, pancreatic and prostate cancers.
Significance of Precise Oncology Solutions
The combination of germline, somatic and companion testing enables doctors to be well informed to decide a personalized treatment plan that provides patient-specific medication in time. The information gathered from each of these tests is vital for navigating each patient’s unique cancer treatment path.
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The Precise Oncology Solutions offering would help healthcare providers to place a single order for multiple Myriad tests and receive timely results through a new unified online portal. The portal serves as a central hub for providers to access testing status and easy-to-interpret summary findings.
Per Myriad Genetics’ management, advancing precision oncology requires oncologists to be equipped with a thorough, timely set of data-driven answers to guide treatment decisions for patients with cancer. The Precise Oncology Solutions reflects the company’s commitment to enhancing health outcomes and making it easier to access genetic insights.
Industry Prospects
Per a report by Reports And Data, the global precision oncology market is expected to reach $99.72 billion in 2027 from $49.98 billion in 2019 at a CAGR of 9.9%. The fast advancement in cancer care, which is associated with genomic medicine, is driving the market.
Progress With Oncology Business
During the fourth quarter of 2021, Myriad Genetics Oncology business rose 12% year over year. In August 2021, Myriad Genetics launched a new version of its market-leading MyRisk Hereditary Cancer Test. For the first time, women of all ancestries can now receive a personalized polygenic breast cancer risk assessment together with the market’s most accurate hereditary cancer test.
Myriad is also planning to launch a new Precise Treatment Registry that combines germline, somatic and HRD genetic data with patient outcomes to accelerate the pace of precision cancer research and equitable advancements in patient care. Over the next few years, Myriad plans to expand its oncology portfolio into liquid biopsy applications, including Minimal Residual Disease (MRD) detection. These offerings will be based on the company’s scientific platforms and capabilities as well as potential industry partnerships with other healthcare innovators.
Price Performance
Shares of the company have lost 13.5% in a year compared with the industry's fall of 32.5%.
Zacks Rank and Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 59.2% compared with the industry’s 10.1% growth in the past year.
AMN Healthcare, flaunting a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 43.6% versus a 54.1% decline of the industry.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. It currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3% versus the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.
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Myriad Genetics (MYGN) Makes Progress in Precision Oncology
Myriad Genetics, Inc. (MYGN - Free Report) recently announced the launch of Precise Oncology Solutions — part of a wide-ranging suite combining germline, tumor and companion diagnostics in one easy-to-access solution. Since the announcement of this news, shares of Myriad Genetics have moved up 3.6% till yesterday’s close.
The Precise Oncology Solutions is a comprehensive offering intended to help oncologists determine effective and personalized treatment plans for individual patients, including evaluation for Homologous Recombination Deficiency (HRD), an important cancer repair pathway.
The latest development is likely to fortify Myriad Genetics’ Oncology business.
More on Precise Oncology Solutions
Precise Oncology Solutions includes Myriad’s new Precise Tumor Molecular Profile Test, developed in partnership with Intermountain Precision Genomics, leading healthcare providers and industry partners.
Precise Oncology Solutions includes Myriad’s two companion diagnostic tests — MyChoice CDx and BRACAnalysis CDx. MyChoice CDx is FDA-approved for patients with ovarian cancer. BRACAnalysis CDx identifies patients with a germline BRCA1/2 mutation and helps spot targeted treatment recommendations for patients with breast, ovarian, pancreatic and prostate cancers.
Significance of Precise Oncology Solutions
The combination of germline, somatic and companion testing enables doctors to be well informed to decide a personalized treatment plan that provides patient-specific medication in time. The information gathered from each of these tests is vital for navigating each patient’s unique cancer treatment path.
The Precise Oncology Solutions offering would help healthcare providers to place a single order for multiple Myriad tests and receive timely results through a new unified online portal. The portal serves as a central hub for providers to access testing status and easy-to-interpret summary findings.
Per Myriad Genetics’ management, advancing precision oncology requires oncologists to be equipped with a thorough, timely set of data-driven answers to guide treatment decisions for patients with cancer. The Precise Oncology Solutions reflects the company’s commitment to enhancing health outcomes and making it easier to access genetic insights.
Industry Prospects
Per a report by Reports And Data, the global precision oncology market is expected to reach $99.72 billion in 2027 from $49.98 billion in 2019 at a CAGR of 9.9%. The fast advancement in cancer care, which is associated with genomic medicine, is driving the market.
Progress With Oncology Business
During the fourth quarter of 2021, Myriad Genetics Oncology business rose 12% year over year. In August 2021, Myriad Genetics launched a new version of its market-leading MyRisk Hereditary Cancer Test. For the first time, women of all ancestries can now receive a personalized polygenic breast cancer risk assessment together with the market’s most accurate hereditary cancer test.
Myriad is also planning to launch a new Precise Treatment Registry that combines germline, somatic and HRD genetic data with patient outcomes to accelerate the pace of precision cancer research and equitable advancements in patient care. Over the next few years, Myriad plans to expand its oncology portfolio into liquid biopsy applications, including Minimal Residual Disease (MRD) detection. These offerings will be based on the company’s scientific platforms and capabilities as well as potential industry partnerships with other healthcare innovators.
Price Performance
Shares of the company have lost 13.5% in a year compared with the industry's fall of 32.5%.
Zacks Rank and Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson, carrying a Zacks Rank #2 (Buy), reported third-quarter fiscal 2022 adjusted earnings per share (EPS) of $6.15, which beat the Zacks Consensus Estimate of $5.38 by 14.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 59.2% compared with the industry’s 10.1% growth in the past year.
AMN Healthcare, flaunting a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 43.6% versus a 54.1% decline of the industry.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. It currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3% versus the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.