Myriad Genetics, Inc. (NASDAQ:MYGN) Given Average Recommendation of “Hold” by Brokerages

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $38.41.

MYGN has been the topic of several recent research reports. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Zacks Investment Research upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine lowered shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “strong-buy” rating and set a $41.00 target price (up from $37.00) on shares of Myriad Genetics in a research report on Tuesday, March 12th. Finally, Barclays lifted their target price on shares of Myriad Genetics from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Friday, June 14th.

NASDAQ:MYGN opened at $23.94 on Friday. Myriad Genetics has a 52-week low of $23.08 and a 52-week 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 stock has a market cap of $1.78 billion, a PE ratio of 19.95, a P/E/G ratio of 1.45 and a beta of 0.79.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The company had revenue of $216.60 million for the quarter, compared to the consensus estimate of $217.76 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, research analysts expect that Myriad Genetics will post 1.44 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Myriad Genetics by 6.4% during the 4th quarter. BlackRock Inc. now owns 12,202,442 shares of the company’s stock valued at $354,727,000 after acquiring an additional 735,832 shares in the last quarter. Baillie Gifford & Co. boosted its position in Myriad Genetics by 0.6% in the first quarter. Baillie Gifford & Co. now owns 9,540,586 shares of the company’s stock valued at $316,747,000 after buying an additional 55,642 shares in the last quarter. Vanguard Group Inc boosted its position in Myriad Genetics by 4.4% in the third quarter. Vanguard Group Inc now owns 8,656,933 shares of the company’s stock valued at $398,219,000 after buying an additional 365,697 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Myriad Genetics by 0.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,922,852 shares of the company’s stock valued at $114,037,000 after buying an additional 29,874 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in Myriad Genetics by 4.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,363,970 shares of the company’s stock valued at $111,684,000 after buying an additional 140,404 shares in the last quarter. Institutional investors and hedge funds own 99.22% 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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