Myriad Genetics (NASDAQ:MYGN) Downgraded by BidaskClub to Strong Sell

BidaskClub lowered shares of Myriad Genetics (NASDAQ:MYGN) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Other analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a hold rating on shares of Myriad Genetics in a research report on Wednesday, May 6th. TheStreet downgraded Myriad Genetics from a c- rating to a d+ rating in a research report on Friday, March 13th. Zacks Investment Research raised Myriad Genetics from a sell rating to a hold rating and set a $15.00 price target for the company in a research report on Thursday, March 26th. Piper Sandler decreased their price target on Myriad Genetics from $20.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday, May 6th. Finally, Barclays decreased their price target on Myriad Genetics from $14.00 to $10.00 and set an underweight rating for the company in a research report on Thursday, March 26th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Myriad Genetics has an average rating of Hold and an average price target of $21.16.

MYGN stock opened at $11.02 on Friday. Myriad Genetics has a twelve month low of $9.24 and a twelve month high of $48.40. The company has a quick ratio of 2.87, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average is $13.90 and its 200-day moving average is $18.69. The firm has a market capitalization of $796.99 million, a PE ratio of -5.51 and a beta of 1.30.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, May 5th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.10). Myriad Genetics had a negative net margin of 19.49% and a positive return on equity of 1.95%. The company had revenue of $164.00 million during the quarter, compared to the consensus estimate of $167.38 million. During the same quarter in the prior year, the business earned $0.46 EPS. The firm’s revenue for the quarter was down 24.4% compared to the same quarter last year. On average, equities research analysts anticipate that Myriad Genetics will post -0.55 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. grew its position in shares of Myriad Genetics by 16.0% in the fourth quarter. Advisor Group Inc. now owns 3,929 shares of the company’s stock valued at $108,000 after purchasing an additional 542 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Myriad Genetics by 4.9% in the first quarter. Victory Capital Management Inc. now owns 16,202 shares of the company’s stock valued at $232,000 after purchasing an additional 760 shares in the last quarter. Mason Street Advisors LLC grew its position in shares of Myriad Genetics by 3.3% in the fourth quarter. Mason Street Advisors LLC now owns 25,910 shares of the company’s stock valued at $706,000 after purchasing an additional 828 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Myriad Genetics by 18.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,305 shares of the company’s stock valued at $76,000 after purchasing an additional 844 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Myriad Genetics by 8.2% in the fourth quarter. Amalgamated Bank now owns 12,030 shares of the company’s stock valued at $328,000 after purchasing an additional 914 shares in the last quarter. Institutional investors own 99.05% 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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