Short Interest in Myriad Genetics Decreases By 3.8% (MYGN)
Myriad Genetics (NASDAQ:MYGN) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totalling 36,480,420 shares, a drop of 3.8% from the April 15th total of 37,918,773 shares, StockRatingsNetwork reports. Approximately 50.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,417,185 shares, the days-to-cover ratio is currently 25.7 days.
In other Myriad Genetics news, VP Ronald Rogers sold 12,500 shares of Myriad Genetics stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $36.01, for a total value of $450,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on MYGN. Analysts at Credit Suisse reiterated a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, May 13th. They now have a $40.00 price target on the stock, up previously from $38.00. Separately, analysts at Ned Davis Research upgraded shares of Myriad Genetics from a “neutral” rating to a “buy” rating in a research note on Monday, April 28th. Finally, analysts at Bank of America reiterated a “neutral” rating on shares of Myriad Genetics in a research note on Monday, April 14th. They now have a $42.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $33.63.
Myriad Genetics (NASDAQ:MYGN) opened at 37.05 on Monday. Myriad Genetics has a one year low of $20.02 and a one year high of $42.50. The stock has a 50-day moving average of $38.44 and a 200-day moving average of $31.12. The company has a market cap of $2.772 billion and a price-to-earnings ratio of 16.06.
Myriad Genetics (NASDAQ:MYGN) last released its earnings data on Tuesday, May 6th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.03. The company had revenue of $182.92 million for the quarter, compared to the consensus estimate of $175.23 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. Analysts expect that Myriad Genetics will post $2.37 EPS for the current fiscal year.
Myriad Genetics, Inc (NASDAQ:MYGN) is a molecular diagnostic company.
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