Myriad Genetics (MYGN) Upgraded to Neutral at Goldman Sachs Group

Myriad Genetics (NASDAQ:MYGN) was upgraded by stock analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Sunday. The firm presently has a $32.72 target price on the stock. Goldman Sachs Group’s target price points to a potential upside of 3.84% from the stock’s current price.

Several other research analysts have also recently weighed in on MYGN. BidaskClub cut Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 21st. Piper Jaffray Companies increased their price objective on Myriad Genetics to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 22nd. Morgan Stanley increased their price objective on Myriad Genetics from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 22nd. Stephens increased their price objective on Myriad Genetics from $45.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 22nd. Finally, Barclays increased their price objective on Myriad Genetics from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.97.

MYGN stock traded down $0.62 during trading hours on Friday, hitting $31.51. 973,445 shares of the stock were exchanged, compared to its average volume of 886,170. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.17 and a quick ratio of 2.83. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.83 and a beta of 0.36. Myriad Genetics has a 12 month low of $27.27 and a 12 month high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.13. The firm had revenue of $202.30 million for the quarter, compared to analysts’ expectations of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 EPS. Research analysts expect that Myriad Genetics will post 1.5 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Myriad Genetics in the third quarter worth $130,000. Robecosam AG increased its position in shares of Myriad Genetics by 39.8% in the second quarter. Robecosam AG now owns 4,193 shares of the company’s stock worth $156,000 after purchasing an additional 1,193 shares during the period. First Quadrant L P CA bought a new position in shares of Myriad Genetics in the third quarter worth $201,000. Ibex Investors LLC bought a new position in shares of Myriad Genetics in the third quarter worth $202,000. Finally, Parametrica Management Ltd bought a new position in shares of Myriad Genetics in the third quarter worth $204,000. Institutional investors own 99.80% of the company’s stock.

About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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