Myriad Genetics, Inc. (NASDAQ:MYGN)‘s stock had its “hold” rating restated by Cowen and Company in a research report issued to clients and investors on Monday. They presently have a $25.00 price target on the stock. Cowen and Company’s price objective points to a potential downside of 9.94% from the company’s previous close.
Several other research firms also recently issued reports on MYGN. Jefferies Group LLC restated a “hold” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a research note on Thursday. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday. J P Morgan Chase & Co restated an “underweight” rating and issued a $16.00 price objective on shares of Myriad Genetics in a research note on Friday, June 30th. Finally, Barclays PLC decreased their price objective on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.78.
Shares of Myriad Genetics (MYGN) traded up 0.40% during trading on Monday, reaching $27.87. The company had a trading volume of 1,299,291 shares. The firm has a 50-day moving average of $25.18 and a 200 day moving average of $20.92. The firm has a market capitalization of $1.91 billion, a PE ratio of 87.37 and a beta of 0.31. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $28.39.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The company had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Myriad Genetics’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Myriad Genetics will post $1.04 earnings per share for the current year.
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Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Myriad Genetics during the second quarter worth approximately $101,000. Riverhead Capital Management LLC boosted its stake in shares of Myriad Genetics by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock worth $107,000 after buying an additional 1,861 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Myriad Genetics during the first quarter worth approximately $112,000. Fiduciary Trust Co. acquired a new stake in shares of Myriad Genetics during the second quarter worth approximately $113,000. Finally, Creative Planning boosted its stake in shares of Myriad Genetics by 11.8% in the first quarter. Creative Planning now owns 6,371 shares of the company’s stock worth $122,000 after buying an additional 671 shares during the last quarter.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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