Options Spotlight: Myriad Genetics

This week’s edition of Options Spotlight takes a look at Myriad Genetics
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According to Hoover’s, Myriad Genetics makes molecular diagnostic tests that can determine a patient’s risk for breast or ovarian cancer (BRACAnalysis), skin cancer (MELARIS), and colon cancer (COLARIS).

The firm is also developing treatments for some of those myriad diseases, including drugs for cancers and viral diseases such as AIDS. Myriad’s drug candidates include brain tumor therapy Azixa and blood cancer compound MPC-2130.

Earlier this week, the company reported a fiscal first-quarter profit of $14.5 million, or 30 cents per share, on sales of $73.7 million. Analysts had predicted a profit of 14 cents per share on sales of $70 million. The firm reported that sales jumped and margins improved for the biopharmaceutical company, which also saw a significant decline in research-and-development expenses.

In the Options Spotlight, I shine a light on what’s happening in the options world. In the case of Myriad Genetics, put activity has been brisk on the shares as investors attempt to call a top to the security’s uptrend. Has this stock’s rally finally reached an end?

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Copyright Schaeffer’s Investment Research. www.schaeffersresearch.com.