Myriad Genetics (NASDAQ:MYGN) released its quarterly earnings data on Tuesday. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13, RTT News reports. Myriad Genetics had a net margin of 17.69% and a return on equity of 9.78%. The firm had revenue of $202.30 million for the quarter, compared to analyst estimates of $203.20 million. During the same period last year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year.
Shares of MYGN stock traded down $3.51 on Wednesday, hitting $33.16. The stock had a trading volume of 44,320 shares, compared to its average volume of 990,836. The company has a market cap of $2.87 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.19 and a quick ratio of 2.86. Myriad Genetics has a 12-month low of $27.27 and a 12-month high of $50.44.
MYGN has been the topic of a number of recent research reports. Piper Jaffray Companies raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $53.00 in a research note on Wednesday, October 10th. Barclays raised their price objective on shares of Myriad Genetics from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 22nd. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Friday, August 24th. ValuEngine downgraded shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Finally, BidaskClub downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Saturday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Myriad Genetics presently has an average rating of “Hold” and an average price target of $41.90.
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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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