BidaskClub Upgrades Myriad Genetics (MYGN) to “Hold”

BidaskClub upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a sell rating to a hold rating in a report issued on Thursday.

A number of other equities analysts have also recently commented on the company. TheStreet cut Myriad Genetics from a b rating to a c rating in a report on Thursday, November 8th. ValuEngine cut Myriad Genetics from a buy rating to a hold rating in a report on Thursday, November 8th. Deutsche Bank boosted their price objective on Myriad Genetics from $37.00 to $43.00 and gave the stock a hold rating in a report on Monday, November 5th. Zacks Investment Research cut Myriad Genetics from a buy rating to a hold rating in a report on Monday, October 29th. Finally, Morgan Stanley boosted their price objective on Myriad Genetics from $51.00 to $54.00 and gave the stock an overweight rating in a report on Wednesday, October 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Myriad Genetics currently has an average rating of Hold and a consensus price target of $41.90.

Myriad Genetics stock opened at $30.71 on Thursday. Myriad Genetics has a 52 week low of $27.27 and a 52 week high of $50.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.17 and a quick ratio of 2.83. The stock has a market cap of $2.30 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.78 and a beta of 0.51.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The business had revenue of $202.30 million during the quarter, compared to analysts’ expectations of $203.20 million. During the same quarter last year, the company posted $0.26 earnings per share. Myriad Genetics’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts predict that Myriad Genetics will post 1.5 EPS for the current year.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Myriad Genetics by 4.4% during the third quarter. Vanguard Group Inc. now owns 8,656,933 shares of the company’s stock worth $398,219,000 after acquiring an additional 365,697 shares during the period. Morgan Stanley boosted its holdings in shares of Myriad Genetics by 110.9% during the third quarter. Morgan Stanley now owns 737,327 shares of the company’s stock worth $33,916,000 after acquiring an additional 387,692 shares during the period. Legal & General Group Plc boosted its holdings in shares of Myriad Genetics by 10.8% during the third quarter. Legal & General Group Plc now owns 165,855 shares of the company’s stock worth $7,646,000 after acquiring an additional 16,186 shares during the period. Kepos Capital LP acquired a new stake in shares of Myriad Genetics in the third quarter valued at approximately $3,545,000. Finally, Nordea Investment Management AB raised its position in shares of Myriad Genetics by 23.7% in the third quarter. Nordea Investment Management AB now owns 101,483 shares of the company’s stock valued at $4,669,000 after buying an additional 19,417 shares in the last quarter. Institutional investors own 98.21% of the company’s stock.

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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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