Price Gapper: Myriad Genetics (MYGN)

Posted in General 
November 4th, 2008

Myriad Genetics Inc. (NASDAQ: MYGN) announced this morning that the company beat earnings significantly with $0.30 EPS and $73.7 million in revenues.  Thomson Reuters (First Call) estimates were $0.14 EPS and $70.4 million in revenues.

The biotech company also said it remains in strong financial condition with $443 million in cash and equivalents.  Its market cap is $2.4  billion and it has no cash burn rates any longer as it is profitable.

What is interesting here is that as of 9:10 AM EST we have only seen 1,200 shares trade hands, but the gap-up indication put this stock up close to 6% around $66.50.

Jon Ogg

November 4, 2008

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