Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $27.96 Average Price Target from Analysts

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Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $27.96.

A number of research analysts recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Myriad Genetics in a report on Friday, January 3rd. They issued a “strong-buy” rating and a $36.00 price objective for the company. Piper Jaffray Companies dropped their price objective on shares of Myriad Genetics from $40.00 to $22.00 in a report on Tuesday, November 5th. Bank of America lowered shares of Myriad Genetics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $30.00 to $28.00 in a report on Thursday, September 26th. Barclays dropped their price objective on shares of Myriad Genetics from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Tuesday, November 5th. Finally, Leerink Swann dropped their price objective on shares of Myriad Genetics from $37.00 to $28.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th.

NASDAQ MYGN traded up $1.17 during trading hours on Tuesday, reaching $29.30. The company’s stock had a trading volume of 690,500 shares, compared to its average volume of 643,578. The firm has a fifty day simple moving average of $26.57 and a 200-day simple moving average of $28.30. The stock has a market cap of $2.09 billion, a P/E ratio of 22.71, a P/E/G ratio of 3.32 and a beta of 0.92. Myriad Genetics has a 52 week low of $20.10 and a 52 week high of $48.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.86 and a quick ratio of 2.61.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.18). The business had revenue of $186.30 million during the quarter, compared to the consensus estimate of $202.34 million. Myriad Genetics had a negative net margin of 1.83% and a positive return on equity of 6.48%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. On average, research analysts expect that Myriad Genetics will post 0.73 earnings per share for the current year.

In related news, Director John T. Henderson acquired 5,250 shares of Myriad Genetics stock in a transaction dated Thursday, November 7th. The stock was bought at an average price of $23.46 per share, with a total value of $123,165.00. Following the transaction, the director now directly owns 64,353 shares in the company, valued at approximately $1,509,721.38. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Walter Phd Gilbert acquired 5,860 shares of Myriad Genetics stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $25.60 per share, with a total value of $150,016.00. Following the transaction, the director now owns 54,150 shares in the company, valued at $1,386,240. The disclosure for this purchase can be found here. Company insiders own 5.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Neuburgh Advisers LLC lifted its stake in Myriad Genetics by 4.5% during the 2nd quarter. Neuburgh Advisers LLC now owns 7,040 shares of the company’s stock valued at $196,000 after acquiring an additional 304 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Myriad Genetics by 5.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,898 shares of the company’s stock worth $219,000 after purchasing an additional 400 shares during the period. Glen Harbor Capital Management LLC raised its stake in shares of Myriad Genetics by 4.5% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 9,680 shares of the company’s stock worth $269,000 after purchasing an additional 418 shares during the period. Comerica Bank raised its stake in shares of Myriad Genetics by 0.4% during the 3rd quarter. Comerica Bank now owns 109,680 shares of the company’s stock worth $3,585,000 after purchasing an additional 463 shares during the period. Finally, Texas Permanent School Fund raised its stake in shares of Myriad Genetics by 1.0% during the 3rd quarter. Texas Permanent School Fund now owns 50,276 shares of the company’s stock worth $1,439,000 after purchasing an additional 480 shares during the period.

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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