MYGN integrates HRD platform with Illumina, shares rise 3.2%, positive.

From Nasdaq: 2024-11-25 06:39:00

Myriad Genetics, Inc. announced updates to its agreement with Illumina Inc., expanding access to its Genomic Instability Score for HRD detection. Following the news, MYGN shares rose 3.2% to $15.49. The company’s earnings are projected to surge 144.4% in 2024. MYGN aims to broaden clinical research opportunities and drive CDx development for HRD-based therapies.

Global oncology CDx market valued at $4.78 billion in 2023, expected to grow at 8.7% CAGR through 2030. MYGN launched Prequel Prenatal Screen at 8 weeks gestational age and expanded SneakPeek gender test availability. Year-to-date, MYGN shares fell 19%. MYGN currently holds a Zacks Rank #3 (Hold).

Better-ranked stocks in the medical sector include Penumbra and Globus Medical, both carrying a Zacks Rank #2 (Buy). Penumbra’s shares rose 5.9% in the past year, with earnings estimates increasing. Globus Medical’s shares surged 83.9% in the past year, with earnings surpassing estimates consistently. Zacks’ Research Chief names a stock likely to double in the coming months.



Read more at Nasdaq: MYGN Stock Up on Integration of HRD Platform Into Illumina’s TSO 500 v2