Myriad Genetics (NASDAQ:MYGN)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Thursday, StockRatingsNetwork.com reports. They currently have a $27.00 target price on the stock. Zacks‘ price objective would suggest a potential upside of 3.61% from the company’s current price.
Zacks‘ analyst wrote, “Myriad reported an encouraging fourth-quarter fiscal 2013, with EPS of $0.53 beating the Zacks Consensus Estimate by 20.5% and year-ago EPS by 58%. Revenue surged 31% to $174.1 million, topping the Zacks Consensus Estimate of $159 million. The fiscal results were also ahead of the Zacks Consensus Estimate. We look forward to Myriad’s efforts to revamp its portfolio with the innovative myRisk test. The company should gain from expansion of indications, pipeline expansion, and stronger international presence. However, the potential market entry of other players following a Supreme Court ruling and subsequent price war is a cause of concern. Uncertainty emanating from the conversion to myRisk is another headwind. Despite healthy growth record, near-term outlook looks bleak. Thus, we remain Neutral on the stock. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company downgraded shares of Myriad Genetics (NASDAQ:MYGN) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, August 14th. Separately, analysts at Ned Davis Research upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, July 1st. Finally, analysts at Oppenheimer initiated coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a research note to investors on Wednesday, June 26th. They set a “market perform” rating and a $29.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Myriad Genetics has an average rating of “Hold” and an average price target of $34.23.
Shares of Myriad Genetics (NASDAQ:MYGN) traded down 0.84% on Thursday, hitting $25.84. The stock had a trading volume of 931,122 shares. Myriad Genetics has a one year low of $24.08 and a one year high of $38.27. The stock has a 50-day moving average of $27.93 and a 200-day moving average of $28.42. The company has a market cap of $2.079 billion and a P/E ratio of 14.72.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. The company had revenue of $174.10 million for the quarter, compared to the consensus estimate of $159.87 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. Analysts expect that Myriad Genetics will post $1.91 EPS for the current fiscal year.
Myriad Genetics, Inc (NASDAQ:MYGN) is a molecular diagnostic company.
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