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Will Endopredict Win Myriad's (MYGN) Genomic Testing War?
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Renowned molecular diagnostics and personalized medicine company Myriad Genetics, Inc. (MYGN - Free Report) released six favorable study results on its EndoPredict test, a second-generation multigene test that predicts the risk of breast cancer recurrence. The results led by scientists at the Institute of Cancer Research, London were presented at the 2016 San Antonio Breast Cancer Symposium in San Antonio, TX late last week.
This study showed that Myriad Genetics’ EndoPredict significantly outperforms Genomic Health’s first-generation test Oncotype Dx (RS) in predicting long-term recurrence of breast cancer. More particularly, EndoPredict is more accurate during five to 10 years following surgery when half of the breast cancer recurrences usually take place.
In fact, the company not only came up with the evaluation of EndoPredict as much better than Oncotype Dx, it also mentioned about the superiority of two other second-generation tests. According to that Myriad Genetics, both breast cancer index and Prosigna have also outperformed Oncotype Dx in predicting the recurrence of breast cancer in node-negative and node-positive patients across zero to 10 and five to 10 years post-surgery.
What Genomic Health has to Say
We note that, Myriad Genetics’ spat with its greatest rival Genomic Health has not ended here. Following this release, the latter came up with its statement countering Myriad Genetics’ comparative analysis on EndoPredict and Oncotype Dx. According to a Seeking Alpha article, Genomic Health stated that, "By only comparing the prognostic ability of six genomic assays, the clinical applicability of this statistical analysis is limited, as it does not address the critical question of whether or not a patient will benefit from chemotherapy. Oncotype DX is the only independent predictor of both prognosis and chemotherapy benefit in both lymph node-negative and node-positive patients and should not be compared directly to prognostic assays that include clinicopathological factors."
The company also stated that the evaluation by Myriad Genetics is inappropriate given that Oncotype DX is not offered to patients with four or more positive nodes. In a separate press release, Genomic Health also announced favorable results demonstrating the unmatched value of the Oncotype DX test in individualizing breast cancer treatment decisions for patients with various stages of the disease.
Price Comparison
Through the past three months, Myriad Genetics traded much lower than Genomic Health. The gap between the two widened further when Myriad Genetics reported mixed fiscal 2017 first quarter with weak earnings performance. As per the last trading price, while Genomic Health gained 14.8% over this period, Myriad Genetics lost 16.9%. We believe, if the company’s claim related to EndoPredict’s superiority over Oncotype Dx proves true, Myriad Genetics may witness a rebound in share price trend in the coming days.
Zacks Rank & Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold). A couple of better-ranked medical stocks include NxStage Medical Inc. and Bovie Medical Corporation . NxStage Medical sports 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 surged 33.8% over the last one year compared with the S&P 500’s 12.3% growth over the same period. The company has a four-quarter average positive earnings surprise of 46.3%.
Bovie Medical recorded a 125.5% 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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Will Endopredict Win Myriad's (MYGN) Genomic Testing War?
Renowned molecular diagnostics and personalized medicine company Myriad Genetics, Inc. (MYGN - Free Report) released six favorable study results on its EndoPredict test, a second-generation multigene test that predicts the risk of breast cancer recurrence. The results led by scientists at the Institute of Cancer Research, London were presented at the 2016 San Antonio Breast Cancer Symposium in San Antonio, TX late last week.
This study showed that Myriad Genetics’ EndoPredict significantly outperforms Genomic Health’s first-generation test Oncotype Dx (RS) in predicting long-term recurrence of breast cancer. More particularly, EndoPredict is more accurate during five to 10 years following surgery when half of the breast cancer recurrences usually take place.
In fact, the company not only came up with the evaluation of EndoPredict as much better than Oncotype Dx, it also mentioned about the superiority of two other second-generation tests. According to that Myriad Genetics, both breast cancer index and Prosigna have also outperformed Oncotype Dx in predicting the recurrence of breast cancer in node-negative and node-positive patients across zero to 10 and five to 10 years post-surgery.
What Genomic Health has to Say
We note that, Myriad Genetics’ spat with its greatest rival Genomic Health has not ended here. Following this release, the latter came up with its statement countering Myriad Genetics’ comparative analysis on EndoPredict and Oncotype Dx. According to a Seeking Alpha article, Genomic Health stated that, "By only comparing the prognostic ability of six genomic assays, the clinical applicability of this statistical analysis is limited, as it does not address the critical question of whether or not a patient will benefit from chemotherapy. Oncotype DX is the only independent predictor of both prognosis and chemotherapy benefit in both lymph node-negative and node-positive patients and should not be compared directly to prognostic assays that include clinicopathological factors."
The company also stated that the evaluation by Myriad Genetics is inappropriate given that Oncotype DX is not offered to patients with four or more positive nodes. In a separate press release, Genomic Health also announced favorable results demonstrating the unmatched value of the Oncotype DX test in individualizing breast cancer treatment decisions for patients with various stages of the disease.
Price Comparison
Through the past three months, Myriad Genetics traded much lower than Genomic Health. The gap between the two widened further when Myriad Genetics reported mixed fiscal 2017 first quarter with weak earnings performance. As per the last trading price, while Genomic Health gained 14.8% over this period, Myriad Genetics lost 16.9%. We believe, if the company’s claim related to EndoPredict’s superiority over Oncotype Dx proves true, Myriad Genetics may witness a rebound in share price trend in the coming days.
Zacks Rank & Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold). A couple of better-ranked medical stocks include NxStage Medical Inc. and Bovie Medical Corporation . NxStage Medical sports 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 surged 33.8% over the last one year compared with the S&P 500’s 12.3% growth over the same period. The company has a four-quarter average positive earnings surprise of 46.3%.
Bovie Medical recorded a 125.5% 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%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>