Myriad Genetics, Inc. (NASDAQ:MYGN) Releases FY18 Earnings Guidance
Myriad Genetics, Inc. (NASDAQ:MYGN) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.00-1.05 for the period, compared to the Thomson Reuters consensus estimate of $1.08. The company issued revenue guidance of $750-770 million, compared to the consensus revenue estimate of $789.30 million.Myriad Genetics also updated its Q1 guidance to $0.19-0.21 EPS.
Several brokerages have recently issued reports on MYGN. BidaskClub lowered shares of Myriad Genetics from a buy rating to a hold rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Myriad Genetics from a hold rating to a buy rating and set a $28.00 price target for the company in a report on Monday, July 17th. Piper Jaffray Companies reissued a hold rating and issued a $22.00 price target on shares of Myriad Genetics in a report on Friday, July 14th. Cowen and Company reissued a hold rating and issued a $25.00 price target on shares of Myriad Genetics in a report on Friday, July 14th. Finally, J P Morgan Chase & Co reissued an underweight rating and issued a $16.00 price target on shares of Myriad Genetics in a report on Friday, June 30th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Myriad Genetics has an average rating of Hold and an average price target of $21.77.
Shares of Myriad Genetics, Inc. (NASDAQ MYGN) traded up 1.35% during trading on Tuesday, reaching $25.55. 1,859,805 shares of the company were exchanged. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 54.59 and a beta of 0.31. Myriad Genetics, Inc. has a 52-week low of $15.15 and a 52-week high of $31.50. The stock’s 50-day moving average is $24.85 and its 200-day moving average is $20.44.
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About Myriad Genetics
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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