Myriad Genetics (NASDAQ:MYGN) Releases Q3 2020 After-Hours Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its third quarter 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.02-0.02 for the period, compared to the Thomson Reuters consensus estimate of $0.30. The company issued revenue guidance of $172-172 million, compared to the consensus revenue estimate of $201.22 million.Myriad Genetics also updated its FY 2020
After-Hours guidance to 0.45-0.45 EPS.

Shares of Myriad Genetics stock traded down $0.24 on Thursday, hitting $29.29. The company’s stock had a trading volume of 1,576,906 shares, compared to its average volume of 713,680. Myriad Genetics has a 52-week low of $20.10 and a 52-week high of $48.40. The company has a quick ratio of 2.61, a current ratio of 2.86 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $27.89 and a 200-day moving average price of $28.49. The company has a market capitalization of $2.12 billion, a P/E ratio of -133.14, a price-to-earnings-growth ratio of 3.36 and a beta of 0.99.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.18). Myriad Genetics had a positive return on equity of 6.48% and a negative net margin of 1.83%. The business had revenue of $186.30 million during the quarter, compared to analysts’ expectations of $202.34 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Myriad Genetics’s quarterly revenue was down 7.9% on a year-over-year basis. As a group, analysts expect that Myriad Genetics will post 0.73 earnings per share for the current year.

Several brokerages recently weighed in on MYGN. Needham & Company LLC initiated coverage on shares of Myriad Genetics in a research note on Friday, January 3rd. They issued a strong-buy rating and a $36.00 target price for the company. BidaskClub downgraded shares of Myriad Genetics from a strong-buy rating to a buy rating in a research note on Saturday, February 1st. Barclays dropped their price objective on shares of Myriad Genetics from $22.00 to $18.00 and set an underweight rating for the company in a research note on Tuesday, November 5th. Piper Jaffray Companies dropped their price objective on shares of Myriad Genetics from $40.00 to $22.00 in a research note on Tuesday, November 5th. Finally, Zacks Investment Research raised shares of Myriad Genetics from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $27.96.

In other Myriad Genetics news, Director Walter Phd Gilbert bought 5,860 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $25.60 per share, with a total value of $150,016.00. Following the transaction, the director now owns 54,150 shares in the company, valued at $1,386,240. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.90% 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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Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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