Myriad Genetics, Inc. (MYGN) Upgraded at BidaskClub
Myriad Genetics, Inc. (NASDAQ:MYGN) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Several other equities analysts also recently issued reports on MYGN. TheStreet raised shares of Myriad Genetics from a “d+” rating to a “c” rating in a report on Wednesday, March 1st. Stephens raised shares of Myriad Genetics from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Monday, March 13th. Jefferies Group LLC reissued a “hold” rating and set a $18.00 price target on shares of Myriad Genetics in a report on Friday, March 24th. Cowen and Company reissued a “market perform” rating and set a $19.00 price target on shares of Myriad Genetics in a report on Tuesday, March 28th. Finally, Deutsche Bank AG lifted their price target on shares of Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a report on Monday, May 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Myriad Genetics has a consensus rating of “Hold” and a consensus target price of $23.00.
Myriad Genetics (NASDAQ MYGN) traded up 2.09% during midday trading on Friday, reaching $23.88. 1,955,957 shares of the company traded hands. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 51.03 and a beta of 0.34. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $32.97. The firm’s 50 day moving average price is $21.44 and its 200 day moving average price is $18.67.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Myriad Genetics had a net margin of 2.13% and a return on equity of 2.27%. The firm had revenue of $196.90 million during the quarter, compared to the consensus estimate of $188.89 million. On average, analysts expect that Myriad Genetics will post $1.01 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after buying an additional 9,536,219 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock worth $120,020,000 after buying an additional 897,287 shares in the last quarter. Camber Capital Management LLC boosted its position in shares of Myriad Genetics by 6.5% in the first quarter. Camber Capital Management LLC now owns 4,325,000 shares of the company’s stock worth $83,040,000 after buying an additional 265,000 shares in the last quarter. State Street Corp boosted its position in shares of Myriad Genetics by 15.8% in the fourth quarter. State Street Corp now owns 3,589,079 shares of the company’s stock worth $59,836,000 after buying an additional 488,484 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock worth $59,058,000 after buying an additional 41,432 shares in the last quarter.
Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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