Myriad Genetics (NASDAQ:MYGN) Price Target Raised to $30.00 at SVB Leerink

Myriad Genetics (NASDAQ:MYGNGet Rating) had its price target upped by SVB Leerink from $26.00 to $30.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. SVB Leerink currently has a market perform rating on the stock.

Several other analysts have also recently commented on the stock. Cowen set a $25.00 price objective on shares of Myriad Genetics in a research note on Tuesday, July 19th. The Goldman Sachs Group decreased their price objective on shares of Myriad Genetics from $26.00 to $23.00 and set a sell rating for the company in a research note on Tuesday, April 19th. StockNews.com cut shares of Myriad Genetics from a buy rating to a hold rating in a research note on Wednesday, July 13th. Finally, TheStreet cut shares of Myriad Genetics from a c- rating to a d+ rating in a research note on Friday, June 3rd.

Myriad Genetics Trading Up 0.2 %

MYGN stock opened at $27.46 on Friday. The firm has a 50 day moving average of $20.69 and a 200 day moving average of $22.89. Myriad Genetics has a 52 week low of $16.02 and a 52 week high of $36.95.

Myriad Genetics (NASDAQ:MYGNGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. Myriad Genetics had a negative net margin of 2.62% and a negative return on equity of 3.44%. The business had revenue of $179.30 million during the quarter, compared to analysts’ expectations of $170.05 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, analysts predict that Myriad Genetics will post -0.33 EPS for the current fiscal year.

Insider Activity at Myriad Genetics

In related news, Director Daniel K. Spiegelman sold 6,424 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $19.25, for a total value of $123,662.00. Following the completion of the transaction, the director now directly owns 33,980 shares in the company, valued at approximately $654,115. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. purchased a new stake in Myriad Genetics in the 1st quarter worth $27,000. Exchange Traded Concepts LLC purchased a new stake in Myriad Genetics in the 1st quarter worth $29,000. First Horizon Advisors Inc. purchased a new stake in Myriad Genetics in the 2nd quarter worth $57,000. Itau Unibanco Holding S.A. purchased a new stake in Myriad Genetics in the 4th quarter worth $81,000. Finally, CWM LLC purchased a new stake in Myriad Genetics in the 4th quarter worth $99,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

About Myriad Genetics

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Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, or metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.

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