Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $17.00 at JPMorgan Chase & Co.

Myriad Genetics (NASDAQ:MYGN) had its price objective trimmed by JPMorgan Chase & Co. from $20.00 to $17.00 in a research note published on Friday, The Fly reports. The brokerage currently has an underweight rating on the stock.

MYGN has been the subject of several other reports. 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 report on Monday, January 13th. Leerink Swann decreased their price objective on shares of Myriad Genetics from $37.00 to $28.00 and set a market perform rating for the company in a report on Tuesday, November 5th. ValuEngine downgraded shares of Myriad Genetics from a buy rating to a hold rating in a report on Tuesday. Barclays decreased their price objective on shares of Myriad Genetics from $22.00 to $18.00 and set an underweight rating for the company in a report on Tuesday, November 5th. Finally, Piper Jaffray Companies decreased their price objective on shares of Myriad Genetics from $40.00 to $22.00 in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $26.06.

Shares of NASDAQ MYGN traded down $8.27 during trading hours on Friday, hitting $21.02. 9,406,214 shares of the stock were exchanged, compared to its average volume of 699,279. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.86 and a quick ratio of 2.61. The company’s 50 day moving average is $27.81 and its 200 day moving average is $28.46. The firm has a market capitalization of $2.18 billion, a P/E ratio of 38.54, a P/E/G ratio of 3.46 and a beta of 0.99. Myriad Genetics has a one year low of $19.08 and a one year high of $48.40.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $195.10 million during the quarter, compared to the consensus estimate of $209.61 million. Myriad Genetics had a negative net margin of 3.22% and a positive return on equity of 5.42%. Myriad Genetics’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Research analysts anticipate that Myriad Genetics will post 0.73 earnings per share for the current fiscal year.

In related news, Director Walter Phd Gilbert bought 5,860 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $25.60 per share, for a total transaction of $150,016.00. Following the purchase, the director now directly owns 54,150 shares in the company, valued at $1,386,240. The purchase was disclosed in a filing with the SEC, which is available through this link. 5.90% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its stake in shares of Myriad Genetics by 104.3% in the 4th quarter. Advisory Services Network LLC now owns 1,083 shares of the company’s stock valued at $29,000 after buying an additional 553 shares in the last quarter. Evoke Wealth LLC acquired a new position in shares of Myriad Genetics in the 3rd quarter valued at $44,000. Meeder Asset Management Inc. acquired a new position in shares of Myriad Genetics in the 3rd quarter valued at $52,000. First Bank & Trust raised its stake in shares of Myriad Genetics by 583.7% in the 4th quarter. First Bank & Trust now owns 2,181 shares of the company’s stock valued at $59,000 after buying an additional 1,862 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Myriad Genetics in the 4th quarter valued at $85,000.

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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