Myriad Genetics (NASDAQ:MYGN) was downgraded by investment analysts at Cowen from an “outperform” rating to a “market perform” rating in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $26.64 price target on the stock. Cowen’s price objective points to a potential upside of 5.80% from the stock’s current price.
MYGN has been the topic of a number of other research reports. Needham & Company LLC restated a “strong-buy” rating and issued a $32.00 price objective on shares of Myriad Genetics in a report on Tuesday, May 14th. They noted that the move was a valuation call. BidaskClub downgraded Extraction Oil & Gas from a “hold” rating to a “sell” rating in a report on Saturday, May 4th. ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Barclays set a $18.00 price objective on Summit Materials and gave the stock a “hold” rating in a report on Friday, June 14th. Finally, Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Myriad Genetics presently has an average rating of “Hold” and an average price target of $37.74.
Shares of NASDAQ MYGN traded down $1.35 during mid-day trading on Tuesday, reaching $25.18. The company had a trading volume of 715,154 shares, compared to its average volume of 972,358. The business has a fifty day simple moving average of $25.13. The company has a quick ratio of 2.86, a current ratio of 3.15 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.96 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.46 and a beta of 0.82. Myriad Genetics has a 12-month low of $22.07 and a 12-month high of $50.44.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The company had revenue of $216.60 million during the quarter, compared to analysts’ expectations of $217.76 million. During the same period last year, the company earned $0.34 earnings per share. Myriad Genetics’s revenue for the quarter was up 18.3% compared to the same quarter last year. Research analysts expect that Myriad Genetics will post 1.44 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in MYGN. Pearl River Capital LLC grew its holdings in Myriad Genetics by 154.9% during the first quarter. Pearl River Capital LLC now owns 882 shares of the company’s stock valued at $30,000 after purchasing an additional 536 shares during the last quarter. Investors Research Corp acquired a new position in Myriad Genetics during the first quarter valued at approximately $46,000. Financial Gravity Wealth Inc. acquired a new position in Myriad Genetics during the first quarter valued at approximately $56,000. Nisa Investment Advisors LLC grew its holdings in Myriad Genetics by 625.0% during the first quarter. Nisa Investment Advisors LLC now owns 2,320 shares of the company’s stock valued at $77,000 after purchasing an additional 2,000 shares during the last quarter. Finally, QS Investors LLC grew its holdings in Myriad Genetics by 17,692.3% during the fourth quarter. QS Investors LLC now owns 4,626 shares of the company’s stock valued at $135,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors own 99.22% 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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