Myriad Genetics (NASDAQ:MYGN) received a $45.00 target price from stock analysts at Stephens in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the stock. Stephens’ price objective would indicate a potential upside of 28.21% from the stock’s previous close.

The analysts wrote, “We initiate coverage of Nightstar Therapeutics (NITE) with a Buy rating (PT$40), on the market opportunity likely addressed by NSR- REP1 in choroideremia (CHM). Choroideremia is a rare, inherited degenerative disease of the retina that typically has onsets in childhood or early adolescence. Patients then progress to reach legal or complete blindness in their 40s or 50s. There are currently no FDA-approved disease-modifying therapies for CHM. Nightstar’s lead asset, AAV-based gene therapy, NSR-REP1, is due to enter the 140-patient pivotal phase III STAR trial in 1H18 for the treatment of CHM. With the Lancet-published phase I/II data for NSR-REP1 in CHM, and subsequent updates from the multi-center program, Nightstar has been able to show that all NSR-REP1- treated patients who received the therapeutic dose were able to maintain vision to 5 years after treatment.””

A number of other research firms also recently weighed in on MYGN. ValuEngine raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 15th. Deutsche Bank boosted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Morgan Stanley boosted their price target on shares of Myriad Genetics from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 8th. Finally, Leerink Swann reissued a “market perform” rating and set a $31.00 price target on shares of Myriad Genetics in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $28.60.

Shares of Myriad Genetics (MYGN) traded up $0.19 during mid-day trading on Wednesday, hitting $35.10. 495,927 shares of the stock were exchanged, compared to its average volume of 498,500. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $37.30. The firm has a market capitalization of $2,420.00, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 2.18 and a beta of 0.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.06.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The company had revenue of $190.20 million for the quarter, compared to analyst estimates of $183.52 million. During the same period in the prior year, the business earned $0.23 earnings per share. Myriad Genetics’s quarterly revenue was up 7.2% on a year-over-year basis. equities research analysts anticipate that Myriad Genetics will post 1.05 earnings per share for the current year.

In other Myriad Genetics news, Director Heinrich Dreismann sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $33.50, for a total value of $201,000.00. Following the completion of the sale, the director now owns 33,743 shares of the company’s stock, valued at $1,130,390.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter Phd Gilbert sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $33.19, for a total transaction of $248,925.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,531 shares of company stock valued at $545,826. 6.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Myriad Genetics in the second quarter valued at approximately $101,000. Riverhead Capital Management LLC increased its stake in Myriad Genetics by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after purchasing an additional 1,861 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Myriad Genetics in the second quarter valued at approximately $113,000. Meeder Asset Management Inc. increased its position in shares of Myriad Genetics by 1,067.4% during the third quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after acquiring an additional 3,010 shares in the last quarter. Finally, Tiedemann Wealth Management LLC increased its position in shares of Myriad Genetics by 67.0% during the third quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock worth $185,000 after acquiring an additional 5,475 shares in the last quarter.

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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.

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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