Type
|
Public |
---|---|
Traded as | NASDAQ: MYGN |
Industry | Healthcare Molecular Diagnostics Biotechnology Personalized Medicine |
Founded | Salt Lake City, Utah, United States (1991) |
Headquarters | Salt Lake City, Utah |
Key people
|
Mark Capone, President and CEO Mark Skolnick, Co-Founder Pete Meldrum, Co-Founder Jerry Lanchbury, CSO Walter Gilbert, Director and Vice Chair |
Website | www |
Myriad Genetics, Inc. is an American molecular diagnostic company based in Salt Lake City, Utah, United States. Myriad employs a number of proprietary technologies that permit doctors and patients to understand the genetic basis of human disease and the role that genes play in the onset, progression and treatment of disease. This information is used to guide the development of new molecular diagnostic products that assess an individual's risk for developing disease later in life (predictive medicine), identify a patient's likelihood of responding to a particular drug therapy (personalized medicine), assess a patient's risk of disease progression and disease recurrence (personalized medicine), and measure disease activity. Myriad's discovery of the breast cancer gene, BRCA1 was universally acclaimed as a monumental achievement: “There is no more exciting story in medical science.” Myriad was the subject of scrutiny after it became involved in a lawsuit over its patenting practices, which led to the landmark Supreme Court decision Association for Molecular Pathology v. Myriad Genetics, Inc..
In August 2016 Myriad announced it would acquire Assurex Health for up to $410 million, expanding the company's genetic testing for psychotropic medicine selection.
The global search for the genetic basis of breast and ovarian cancers began in earnest in 1988. In 1990, at an American Society of Human Genetics Meeting, a team of scientists led by Mary-Claire King, Ph.D., from the University of California, Berkeley announced the localization through linkage analysis of a gene associated with increased risk for breast cancer (BRCA1) to the long arm of chromosome 17. In August 1994, Mark Skolnick and researchers at Myriad, along with colleagues at the University of Utah, the U.S National Institutes of Health (NIH), and McGill University sequenced BRCA1. In 2013, the actress Angelina Jolie had her ovaries removed because she tested positive for a mutation in the BRCA1 gene. This led to a surge in demand by women for genetic testing.
The founders of Myriad are Peter Meldrum (past President and CEO of Agridyne and past CEO and President of Myriad Genetics, Inc.), Kevin Kimberlin (Chairman of Spencer Trask & Co.), Dr. Walter Gilbert (Founder of Biogen) and Mark Skolnick (Adjunct Professor in the Department of Medical Informatics at the University of Utah).
Subsidiaries of Myriad Genetics include Myriad Genetic Laboratories, Inc., Myriad RBM, Crescendo Bioscience, Sividon Diagnostics, and, most recently, Assurex Health.
Myriad Genetics's intention to patent human genes led to intense controversy. Though patenting genes has been an established practice since the beginning of genetic research, it was alleged that because genes occur naturally in every human, patenting them would constitute an obstacle to biomedical research worldwide. It did create obstacles for competing businesses in testing for the gene, but did not interfere with scientists’ ability to study the gene. It was one of the most widely studied genes with more than 10,000 papers.
Secondly, because the discovery of their relevance to breast cancer was funded by the public.
Third, because the company was selling its breast cancer diagnostic test for a price many described as "outrageous": $4000, the price of a whole genome sequencing (around 20,000 genes analyzed), when the test only looked at two genes.Some also stated that its price for the breast cancer diagnostic test was "outrageous" ranging from $2,500 to $4,000.
Myriad Genetics was a defendant in the case Association for Molecular Pathology v. Myriad Genetics (formerly Association For Molecular Pathology et al. v. United States Patent and Trademark Office). Lawyers at the ACLU served as counsel for the plaintiffs. In the suit, medical associations, doctors, and patients sued Myriad Genetics to challenge seven United States patents on genes related to breast cancer and ovarian cancer.
Two of the company's patents on the BRCA1 and BRCA2 genes were ruled invalid on March 29, 2010 by Judge Robert W. Sweet in the U.S. District Court for the Southern District of New York. On appeal, the Court of Appeals for the Federal Circuit reversed the trial court in an opinion dated July 29, 2011 and held that the genes were eligible for patents.
On December 7, 2011, the ACLU filed a petition for a writ of certiorari to the Supreme Court. On March 26, 2012, the Supreme Court vacated the Federal Circuit's judgment and remanded the case for further consideration in light of Mayo Collaborative Services v. Prometheus Laboratories, Inc., in which the Supreme Court had ruled, just six days earlier, that more restrictive rules were required to patent observations about natural phenomena.
On August 16, 2012, the Federal Circuit reaffirmed Myriad's right to patent the genes although they denied rights to patent comparisons of DNA sequences. On November 30, 2012, the Supreme Court agreed to hear a second challenge to the two gene patents held by Myriad. Oral argument took place on April 15, 2013. On June 13, 2013, in Association for Molecular Pathology v. Myriad Genetics (No. 12-398), the US Supreme Court unanimously ruled that "A naturally occurring DNA segment is a product of nature and not patent eligible merely because it has been isolated", invalidating Myriad's patents on the BRCA1 and BRCA2 genes. However, the Court also held that manipulation of a gene to create something not found in nature—such as a strand of synthetically-produced complementary DNA (cDNA)—could still be eligible for patent protection.
Myriad Genetics has also been involved in litigation in Australia over the patentability of DNA sequences. Regarding BRCA1, the company succeeded in the Federal Court, both at first instance and on appeal to the full court, but in October 2015 lost in a unanimous decision of the High Court, D'Arcy v Myriad Genetics Inc.
In Australia an invention is patentable if, to begin with, it is a "manner of manufacture". The plurality in the High Court formulated the key question as: "Whether the invention as claimed is for a product made, or a process producing an outcome as a result of human action" (para [28]). It held that the product in issue continued to consist basically of genetic information that occurs naturally, had not been altered as a result of human action, therefore had not been "manufactured" and consequently was not patentable. The plurality reflected that a broader conception of patentability could, both by creating virtual monopolies and by blurring the boundaries of what might come to be patented, produce a chilling effect on research and application, contrary to the purposes of patent protection.
The appellant had cited the recent US Supreme Court decision for comparison. The High Court was also aware that its decision could conflict with recent judicial decisions, as well as patents legislation, in other countries, and possibly with Australia's international obligations; however, it considered these to be issues for the legislature, as well as denying that its decision in this case was intended to set a precedent with regard to genetic patenting generally. In addition, the rest of the court did not dissent from Gordon J's concluding observation: "It is important to notice that the claims made in the patents in suit in the United States of America considered in Association for Molecular Pathology v Myriad Genetics Inc 186 L Ed 2d 124 (2013) were claims to the particular genetic sequences and therefore radically different from the disputed claims in this appeal" (note 232).
Period | Date | Adjusted Actuals EPS | GAAP EPS |
---|---|---|---|
Q3 2023 | 2022-10-27 | Future report Set alerts | |
Q2 2023 | 2022-08-04 | 0.04 | 0.04 |
Q1 2023 | 2022-05-05 | -0.03 | -0.03 |
Q4 2022 | 2022-02-24 | -0.02 | -0.02 |
Q3 2022 | 2021-11-02 | -0.02 | -0.02 |
Q4 2021 | 2021-08-11 | Future report Set alerts | |
Q2 2022 | 2021-08-03 | 0.12 | 0.12 |
Q1 2022 | 2021-05-03 | -0.06 | -0.06 |
Q3 2021 | 2021-05-03 | Future report Set alerts | |
Q2 2021 | 2021-02-23 | -0.12 | -0.12 |
2016-07-06 | Reiterated Rating | Mizuho | Neutral | $34.00 |
2016-07-06 | Reiterated Rating | Barclays PLC | Overweight | $50.00 |
2016-05-04 | Lower Price Target | Avondale Partners | Market Outperform | $50.00 to $47.00 |
2016-05-04 | Reiterated Rating | Mizuho | Neutral | $42.00 to $34.00 |
2016-05-04 | Reiterated Rating | Bank of America | Hold | $39.00 |
2016-05-04 | Reiterated Rating | Leerink Swann | Market Perform | $44.00 to $41.00 |
2016-05-04 | Reiterated Rating | Bank of America Corp. | Hold | $39.00 |
2016-04-20 | Reiterated Rating | Leerink Swann | Market Perform | $44.00 |
2016-03-23 | Boost Price Target | Goldman Sachs | $40.00 | |
2016-03-23 | Boost Price Target | Goldman Sachs Group Inc. | $40.00 | |
2016-02-05 | Reiterated Rating | Mizuho | Neutral | $42.00 |
2016-02-03 | Reiterated Rating | Deutsche Bank | Buy | $52.00 to $51.00 |
2016-02-03 | Reiterated Rating | Deutsche Bank AG | Buy | $52.00 to $51.00 |
2016-01-07 | Boost Price Target | Cowen and Company | $40.00 | |
2016-01-07 | Boost Price Target | Barclays | Overweight | $50.00 to $52.00 |
2016-01-07 | Boost Price Target | Barclays PLC | Overweight | $50.00 to $52.00 |
2016-01-06 | Initiated Coverage | Avondale Partners | Outperform | $50.00 |
2016-01-06 | Initiated Coverage | Deutsche Bank | Buy | $52.00 |
2015-12-08 | Upgrade | Goldman Sachs | Sell to Neutral | $31.00 to $40.00 |
2015-11-27 | Reiterated Rating | Piper Jaffray | Buy | |
2015-11-27 | Reiterated Rating | Piper Jaffray Cos. | Buy | |
2015-11-06 | Reiterated Rating | Piper Jaffray | Overweight | $45.00 to $47.00 |
2015-11-04 | Boost Price Target | Leerink Swann | Market Perform | $37.00 to $46.00 |
2015-11-04 | Boost Price Target | Barclays | Overweight | $46.00 to $50.00 |
2015-11-04 | Boost Price Target | Mizuho | Neutral | $38.00 to $42.00 |
2015-10-14 | Boost Price Target | Cowen and Company | Market Perform | $30.00 to $36.00 |
2015-09-20 | Reiterated Rating | William Blair | Buy | |
2015-09-16 | Boost Price Target | Stephens | Overweight | $42.00 to $47.00 |
2015-09-15 | Boost Price Target | Goldman Sachs | Sell | $24.00 to $27.00 |
2015-09-15 | Boost Price Target | Jefferies Group | Hold | $32.00 to $38.00 |
2015-09-15 | Reiterated Rating | Piper Jaffray | Overweight | $41.00 to $45.00 |
2015-09-15 | Boost Price Target | Mizuho | Neutral | $32.00 to $38.00 |
2015-09-10 | Reiterated Rating | William Blair | Buy | |
2015-08-25 | Upgrade | Wells Fargo & Co. | Market Perform to Outperform | |
2015-08-25 | Upgrade | Wells Fargo | Market Perform to Outperform | |
2015-08-12 | Lower Price Target | JMP Securities | Market Outperform | $46.00 to $40.00 |
2015-07-21 | Initiated Coverage | Gabelli | Buy | $42.00 |
2015-05-28 | Reiterated Rating | Credit Suisse | Underperform | |
2015-05-28 | Reiterated Rating | Credit Suisse Group AG | Underperform | |
2015-05-07 | Reiterated Rating | Cantor Fitzgerald | Buy | $43.00 |
2015-05-06 | Lower Price Target | JMP Securities | Market Outperform | $50.00 to $46.00 |
2015-03-30 | Reiterated Rating | Piper Jaffray | Positive | |
2015-03-26 | Downgrade | Goldman Sachs | Neutral to Sell | $31.00 to $25.00 |
2015-02-05 | Reiterated Rating | Cantor Fitzgerald | Buy | $43.00 |
2015-02-04 | Reiterated Rating | Oppenheimer | Hold | |
2015-02-04 | Downgrade | Credit Suisse | Neutral to Underperform | $35.00 to $30.00 |
2015-02-04 | Upgrade | JMP Securities | Market Perform to Outperform | $50.00 |
2015-02-04 | Downgrade | Mizuho | Buy to Neutral | $50.00 to $32.00 |
2015-02-04 | Reiterated Rating | Oppenheimer Holdings Inc. | Hold | |
2015-01-07 | Initiated Coverage | Barclays | Overweight | $50.00 |
2014-12-21 | Reiterated Rating | William Blair | Outperform | |
2014-12-19 | Initiated Coverage | Wells Fargo & Co. | Market Perform | |
2014-12-19 | Initiated Coverage | Wells Fargo | Market Perform | |
2014-11-10 | Initiated Coverage | Morgan Stanley | Underperform to Underperform | $25.00 to $34.89 |
2014-08-15 | Reiterated Rating | Credit Suisse | Neutral | $40.00 to $35.00 |
2014-07-14 | Boost Price Target | SunTrust | $22.00 to $26.00 | |
2014-07-14 | Boost Price Target | SunTrust Banks Inc. | $22.00 to $26.00 | |
2014-06-30 | Boost Price Target | RBC Capital | Sector Perform | $31.00 to $40.00 |
2014-06-05 | Reiterated Rating | Macquarie | Neutral | $38.00 to $36.00 |
2014-05-13 | Reiterated Rating | Credit Suisse | Hold | $38.00 to $40.00 |
2014-04-28 | Upgrade | Ned Davis Research | Neutral to Buy | |
2014-04-14 | Reiterated Rating | Bank of America | Neutral | $42.00 |
2014-04-08 | Boost Price Target | Goldman Sachs | $45.00 | |
2014-04-04 | Upgrade | Mizuho | Neutral to Buy | |
2014-04-04 | Boost Price Target | Cowen and Company | $24.00 to $37.00 | |
2014-04-02 | Boost Price Target | Mizuho | Neutral to Neutral | $28.00 to $40.00 |
2014-04-02 | Boost Price Target | Leerink Swann | $28.00 to $35.00 | |
2014-04-02 | Boost Price Target | Cantor Fitzgerald | $42.00 to $44.00 | |
2014-04-02 | Boost Price Target | Jefferies Group | $30.00 to $33.00 | |
2014-03-31 | Initiated Coverage | JPMorgan Chase & Co. | Underweight | $25.00 |
2014-02-07 | Upgrade | Credit Suisse | Underperform to Neutral | $29.00 |
2014-02-05 | Boost Price Target | Mizuho | Neutral | $24.00 to $28.00 |
2014-02-05 | Downgrade | Ladenburg Thalmann | Buy to Neutral | |
2014-02-05 | Upgrade | JMP Securities | Underperform to Market Perform | $30.80 |
2013-12-31 | Reiterated Rating | Bank of America | Neutral | $31.00 to $25.00 |
2013-12-30 | Downgrade | Mizuho | Buy to Neutral | $24.00 |
2013-12-30 | Lower Price Target | Goldman Sachs | Hold | $32.00 to $20.00 |
2013-12-30 | Lower Price Target | Stephens | Overweight | $32.00 |
2013-12-30 | Lower Price Target | Piper Jaffray | $36.00 to $29.00 | |
2013-12-30 | Lower Price Target | Leerink Swann | $25.00 | |
2013-12-30 | Downgrade | JMP Securities | Market Perform to Underperform | |
2013-12-03 | Downgrade | JMP Securities | Outperform to Market Perform | |
2013-11-11 | Boost Price Target | Credit Suisse | Underperform | $20.00 to $22.00 |
2013-11-06 | Boost Price Target | Ladenburg Thalmann | Buy | $28.00 to $29.65 |
2013-11-06 | Boost Price Target | Jefferies Group | Hold | $24.00 to $25.00 |
2013-11-06 | Reiterated Rating | Credit Suisse | Sell | $20.00 |
2013-10-22 | Lower Price Target | Jefferies Group | Hold | $31.00 to $24.00 |
2013-10-21 | Downgrade | Credit Suisse | Neutral to Underperform | $28.00 to $20.00 |
2013-10-10 | Initiated Coverage | SunTrust | Reduce | $17.00 |
2013-10-01 | Upgrade | Ladenburg Thalmann | Neutral to Buy | $28.00 |
2013-09-30 | Downgrade | Ned Davis Research | Buy to Neutral | |
2013-06-14 | Reiterated | Cantor Fitzgerald | Buy | $40 to $41 |
2013-06-13 | Reiterated | Mizuho | Buy | $38 to $43 |
2013-06-07 | Initiated | Cantor Fitzgerald | Buy | $40 |
2013-04-03 | Reiterated | Mizuho | Neutral | $30 to $27 |
2013-02-05 | Downgrade | Ladenburg Thalmann | Buy to Neutral | |
2012-12-03 | Downgrade | Mizuho | Buy to Neutral | $31 to $30 |
2012-11-06 | Reiterated | Mizuho | Buy | $29 to $31 |
2012-10-01 | Initiated | WallachBeth | Buy | $31 |
2012-05-02 | Reiterated | Mizuho | Buy | $27 to $29 |
2016-07-06 | Reiterated Rating | Mizuho | Neutral | $34.00 |
2016-07-06 | Reiterated Rating | Barclays PLC | Overweight | $50.00 |
2016-05-04 | Lower Price Target | Avondale Partners | Market Outperform | $50.00 to $47.00 |
2016-05-04 | Reiterated Rating | Mizuho | Neutral | $42.00 to $34.00 |
2016-05-04 | Reiterated Rating | Bank of America | Hold | $39.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In MYGN 171 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
BlackRock Inc. | 14.58M |
Vanguard Group, Inc | 9.13M |
EARNEST PARTNERS LLC | 6.57M |
WELLINGTON MANAGEMENT CO LLP | 5.96M |
Camber Capital Management LLC | 5.00M |
STATE STREET CORP | 4.66M |
BlackRock Fund Advisors | 3.26M |
BANK OF AMERICA CORP /DE/ | 2.85M |
Artisan Partners Limited Partnership | 2.68M |
DIMENSIONAL FUND ADVISORS LP | 2.43M |
DISCIPLINED GROWTH INVESTORS INC /MN | 2.28M |
D. E. Shaw & Co., Inc. | 1.76M |
BlackRock Institutional Trust Company, N.A. | 1.76M |
GEODE CAPITAL MANAGEMENT, LLC | 1.47M |
GLENVIEW CAPITAL MANAGEMENT LLC | 1.46M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
Capone Mark Christopher President, MGL | 0.44% (332175) | MYGN / |
Tobin Bernard President Crescendo BioScience | 0.19% (142551) | MYGN / |
LANCHBURY JERRY S Chief Scientific Officer | 0.19% (138809) | MYGN / |
MARSH RICHARD M E.V.P., General Counsel | 0.17% (123769) | MYGN / |
King Gary A. Exec. VP International Ops | 0.16% (121968) | MYGN / |
Riggsbee Richard Bryan Chief Financial Officer | 0.15% (109988) | MYGN / |
McDade Ralph L President Myriad RBM, Inc. | 0.14% (108184) | MYGN / |
Ford Alexander President, MGL | 0.11% (79800) | MYGN / |
HENDERSON JOHN T | 0.07% (49743) | CYTK / MYGN / MYRX / |
Verratti Mark President Assurex Health Inc. | 0.07% (49200) | CYBX / MYGN / |
Evans James S Chief Financial Officer | 0.06% (48128) | MYGN / |
LANGER DENNIS | 0.05% (39743) | DCTH / DRNA / MYGN / MYRX / PTX / |
BEST LAWRENCE C | 0.05% (39743) | HAE / MYGN / |
DREISMANN HEINRICH | 0.05% (33743) | MYGN / |
Phanstiel S. Louise | 0.04% (30743) | MYGN / VSTM / |
GILBERT WALTER PHD | 0.04% (27243) | MYGN / |
Hart Jayne B. Executive VP Human Resources | 0.04% (26193) | MYGN / |
Harrison Robert Gardner Chief Information Officer | 0.03% (25844) | MYGN / |
Wenstrup Richard Chief Medical Officer | 0.03% (22069) | MYGN / OXFD / |
Rogers Ronald S. Exec VP Corp Communications | 0.02% (16000) | MYGN / |
MELDRUM PETER D President & C.E.O. | 0.01% (10424) | ECYT / MYGN / |