The Iconoclast Investor

I’ll take this opportunity to mention one of my favorite genetic stocks again.

It’s Myriad Genetics (MYGN), and its business is developing and marketing tests that help assess the risk of disease based on a person’s genetic structure.  Already, the firm has products that assess the risk of breast cancer, ovarian cancer, hereditary melanoma, adenomatous polyposis syndromes, hereditary colorectal cancer, and the risk of toxicity of 5-FU chemotherapy.

Revenues have been growing strongly since 2004.  The company turned profitable in fiscal 2008, which ended June 30.  And it’s projected to grow earnings 44% in 2009 and 35% in 2010.  In short, it’s a real growth business.

And the chart is supportive, too.  When I last mentioned this stock in July, it was trading at 65.  Today, it’s at 58, which is excellent considering what the broad market has done.  The long-term trend of the chart is clearly up, and I think buyers who get on board here and wait patiently will likely be rewarded.