Myriad Genetics Price Target Cut to $24.00 by Analysts at Jefferies Group (MYGN)
Stock analysts at Jefferies Group lowered their target price on shares of Myriad Genetics (NASDAQ:MYGN) from $31.00 to $24.00 in a report issued on Tuesday, AnalystRatings.Net reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective suggests a potential downside of 2.28% from the company’s current price.
Myriad Genetics (NASDAQ:MYGN) traded up 0.57% on Tuesday, hitting $24.56. 1,514,911 shares of the company’s stock traded hands. Myriad Genetics has a 1-year low of $24.08 and a 1-year high of $38.27. The stock has a 50-day moving average of $28.31 and a 200-day moving average of $28.38. The company has a market cap of $1.976 billion and a price-to-earnings ratio of 13.80.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.09. The company had revenue of $174.10 million for the quarter, compared to the consensus estimate of $159.87 million. During the same quarter last year, the company posted $0.34 earnings per share. Myriad Genetics’s revenue was up 30.9% compared to the same quarter last year. Analysts expect that Myriad Genetics will post $1.90 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse downgraded shares of Myriad Genetics from a “neutral” rating to an “underperform” rating in a research note to investors on Monday. They now have a $20.00 price target on the stock, down previously from $28.00. Separately, analysts at SunTrust initiated coverage on shares of Myriad Genetics in a research note to investors on Thursday, October 10th. They set a “reduce” rating and a $17.00 price target on the stock. Finally, analysts at Ladenburg Thalmann upgraded shares of Myriad Genetics from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, October 1st. They now have a $28.00 price target on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.86.
Myriad Genetics, Inc (NASDAQ:MYGN) is a molecular diagnostic company.
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