Myriad Genetics (NASDAQ:MYGN) Upgraded to “Outperform” by Leerink Partnrs

Leerink Partnrs upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a market perform rating to an outperform rating in a research note published on Wednesday morning, Zacks.com reports.

A number of other brokerages have also recently issued reports on MYGN. The Goldman Sachs Group raised their price objective on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a buy rating in a research note on Monday, January 29th. SVB Leerink upgraded Myriad Genetics from a market perform rating to an outperform rating and raised their price target for the stock from $25.00 to $35.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $24.86.

Myriad Genetics Trading Up 21.1 %

MYGN stock opened at $23.95 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. Myriad Genetics has a twelve month low of $13.82 and a twelve month high of $24.21. The company has a market cap of $2.17 billion, a P/E ratio of -7.48 and a beta of 1.96. The business has a fifty day moving average of $20.64 and a 200-day moving average of $19.91.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. The firm had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $193.51 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. As a group, equities research analysts expect that Myriad Genetics will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its holdings in Myriad Genetics by 8.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,107 shares of the company’s stock worth $583,000 after buying an additional 2,050 shares during the period. ProShare Advisors LLC increased its position in shares of Myriad Genetics by 14.2% during the first quarter. ProShare Advisors LLC now owns 23,993 shares of the company’s stock worth $512,000 after acquiring an additional 2,990 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Myriad Genetics by 6.1% during the first quarter. Sei Investments Co. now owns 2,293,185 shares of the company’s stock worth $48,891,000 after acquiring an additional 131,751 shares during the period. Swiss National Bank lifted its position in Myriad Genetics by 8.2% in the 1st quarter. Swiss National Bank now owns 174,700 shares of the company’s stock valued at $3,725,000 after acquiring an additional 13,300 shares in the last quarter. Finally, AMH Equity Ltd acquired a new position in Myriad Genetics in the 1st quarter worth $2,345,000. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.