Other equities research analysts have also issued reports about the stock. Leerink Swann lowered their price target on shares of Myriad Genetics from $37.00 to $28.00 and set a market perform rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on shares of Myriad Genetics from $20.00 to $17.00 and set an underweight rating on the stock in a research note on Friday, February 7th. Piper Sandler lowered their price objective on shares of Myriad Genetics from to in a research note on Friday, February 7th. Needham & Company LLC started coverage on shares of Myriad Genetics in a research note on Friday, January 3rd. They set a strong-buy rating and a $36.00 price objective on the stock. Finally, Barclays lowered their price objective on shares of Myriad Genetics from $22.00 to $18.00 and set an underweight rating on the stock in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $25.16.
Shares of MYGN stock opened at $19.42 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 2.61 and a debt-to-equity ratio of 0.27. Myriad Genetics has a 1 year low of $19.08 and a 1 year high of $48.40. The firm’s fifty day moving average price is $26.85 and its two-hundred day moving average price is $28.17. The firm has a market capitalization of $1.45 billion, a P/E ratio of -53.94, a PEG ratio of 11.31 and a beta of 0.99.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. Myriad Genetics had a negative net margin of 3.22% and a positive return on equity of 5.42%. The firm had revenue of $195.10 million for the quarter, compared to analyst estimates of $209.61 million. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. As a group, equities research analysts forecast that Myriad Genetics will post 0.15 EPS for the current fiscal year.
In related news, insider Nicole Lambert sold 4,354 shares of Myriad Genetics stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $19.73, for a total transaction of $85,904.42. Following the completion of the sale, the insider now owns 59,150 shares of the company’s stock, valued at approximately $1,167,029.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter Phd Gilbert bought 5,860 shares of Myriad Genetics stock in a transaction that occurred on 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 acquisition, the director now directly owns 54,150 shares in the company, valued at approximately $1,386,240. The disclosure for this purchase can be found here. 5.90% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in MYGN. Point72 Hong Kong Ltd acquired a new position in Myriad Genetics during the 4th quarter worth approximately $62,000. UBS Asset Management Americas Inc. increased its position in Myriad Genetics by 1.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 97,139 shares of the company’s stock worth $2,645,000 after purchasing an additional 1,623 shares in the last quarter. GHP Investment Advisors Inc. increased its position in Myriad Genetics by 9.6% during the 4th quarter. GHP Investment Advisors Inc. now owns 71,837 shares of the company’s stock worth $1,956,000 after purchasing an additional 6,300 shares in the last quarter. Guggenheim Capital LLC increased its position in Myriad Genetics by 8.3% during the 4th quarter. Guggenheim Capital LLC now owns 114,452 shares of the company’s stock worth $3,117,000 after purchasing an additional 8,780 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Myriad Genetics by 4.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 538,289 shares of the company’s stock worth $14,658,000 after purchasing an additional 21,690 shares in the last quarter.
Myriad Genetics Company Profile
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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