Analysts Set Myriad Genetics, Inc. (NASDAQ:MYGN) Price Target at $38.41

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned a consensus recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $38.41.

A number of brokerages have recently weighed in on MYGN. ValuEngine downgraded Myriad Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded Myriad Genetics from a “hold” rating to a “sell” rating and set a $25.00 price objective on the stock. in a report on Wednesday, May 29th. 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 upgraded Myriad Genetics from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Finally, Barclays increased their price objective on Myriad Genetics from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, June 14th.

Large investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its holdings in Myriad Genetics by 0.6% during the first quarter. New York State Teachers Retirement System now owns 50,798 shares of the company’s stock valued at $1,686,000 after purchasing an additional 307 shares during the last quarter. Mason Street Advisors LLC grew its holdings in Myriad Genetics by 1.4% during the first quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock valued at $781,000 after purchasing an additional 315 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Myriad Genetics by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 28,955 shares of the company’s stock valued at $961,000 after purchasing an additional 523 shares during the last quarter. 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. Finally, Raymond James & Associates grew its holdings in Myriad Genetics by 9.4% during the fourth quarter. Raymond James & Associates now owns 7,570 shares of the company’s stock valued at $220,000 after purchasing an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Shares of MYGN traded down $0.43 during trading hours on Friday, reaching $22.24. The company’s stock had a trading volume of 51,993 shares, compared to its average volume of 984,427. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. Myriad Genetics has a 1-year low of $22.21 and a 1-year high of $50.44. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $25.16.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The business had revenue of $216.60 million during the quarter, compared to analyst estimates of $217.76 million. Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. Myriad Genetics’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. Equities research analysts anticipate that Myriad Genetics will post 1.44 earnings per share for the current fiscal year.

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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