Myriad Genetics (MYGN), the U.S.-based molecular diagnostic company, employs a variety of proprietary technologies that allow doctors and their patients to understand the genetic origins of diseases and their respective treatment. While MYGN has been taking a heavy hit due to competition, and a lengthy lawsuit over its patenting practices, its excessive put options open interest is indicative of its slide coming to an end.

Fiscal fourth quarter 14, has provided the following information in support of MYGNs rise. Its molecular diagnostic revenue was up 10% at $182.9M, its womens health market revenue up 24% at 81.9M, and its oncology market revenue is at $90.2M which received a huge bolster due to the publicity generated by Angelina Jolie regarding her BRCA analysis in 2013.

MYGN has been busy with acquisitions and launches of new products. MYGNs cash on hand at the end of the Qtr was $270.6M down from $531.0M in June 13 due to the purchase of Crescendo Bioscience Corp for $245M which will reduce guidance to $1.75-$1.85 per share. The cash purchase now leaves MYGN with its subsidiary in a position to penetrate markets in diagnostics and treatments of autoimmune and inflammatory diseases. MYGN also launched three new products including the Myriad myRisk hereditary cancer test, which has been widely accepted within the medical field and contributed to Q4 revenue of $27.3M, an increase of 89%, from March Qtr 14.

MYGNs continuing collaboration with AstraZeneca, the global research based biopharmaceutical company, will provide MYGN with multitudes of opportunities. Specifically, The recent FDA approval of AstraZenecas notable cancer treatment is a plus for MYGNs companion diagnostic test BRACAnalysis CDx which will identify women whose BRCA1/BRCA2 gene mutation places them at risk for breast or ovarian cancer. While in the EU approval of AstraZenecas Lynparza (olaparib), a maintenance therapy for those with BRCA mutations, will further advance the European market for MYGN to aid the approximately 30,000 ovarian cancer patients providing an additional $100M in potential revenue.

The technical picture reflects the positive accumulation to continue through F/Y Q4 earnings report. The sell-off with low volume maintained a secondary support @ (32-33). Reversal will be challenging the secondary resistance @ (37-38). Heading to upper-head resistance @ (39-40).

MYRIAD GENETICS /MYGN TODAYS PRICE: $34.33* 52 week high 42.50, 52 week low 20.02 Market Cap: $2.60B, EPS: 1.78, P/E: 19.32

BUYING RANGE: 34-37 NEAR TERM OBJECTIVE: 46 INTER MED OBJECTIVE: 53 STOP LOSS: 29

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Myriad Genetics Looks Like A Timely Buy For 2015

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