Myriad Genetics (NASDAQ:MYGN) had its price objective hoisted by investment analysts at Barclays from $18.00 to $20.00 in a report released on Friday, The Fly reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective suggests a potential downside of 23.05% from the stock’s previous close.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Myriad Genetics from a “hold” rating to a “sell” rating and set a $25.00 price objective for the company. in a report on Wednesday, May 29th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $32.00 target price on shares of Myriad Genetics in a report on Tuesday, May 14th. They noted that the move was a valuation call. ValuEngine cut shares of Myriad Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Finally, BidaskClub raised shares of Myriad Genetics from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.41.
MYGN opened at $25.99 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.15 and a quick ratio of 2.86. Myriad Genetics has a twelve month low of $23.08 and a twelve month high of $50.44. The company has a market cap of $1.79 billion, a PE ratio of 21.66, a P/E/G ratio of 1.46 and a beta of 0.79.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. The company had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $217.76 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, research analysts predict that Myriad Genetics will post 1.44 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System increased its holdings in Myriad Genetics by 0.6% during the first quarter. New York State Teachers Retirement System now owns 50,798 shares of the company’s stock valued at $1,686,000 after buying an additional 307 shares during the last quarter. Mason Street Advisors LLC increased its holdings in Myriad Genetics by 1.4% during the first quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock valued at $781,000 after buying an additional 315 shares during the last quarter. Taylor Frigon Capital Management LLC increased its holdings in Myriad Genetics by 1.2% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 40,426 shares of the company’s stock valued at $1,175,000 after buying an additional 497 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Myriad Genetics by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 28,955 shares of the company’s stock valued at $961,000 after buying an additional 523 shares during the last quarter. Finally, Pearl River Capital LLC boosted its position in shares of Myriad Genetics by 154.9% in the first quarter. Pearl River Capital LLC now owns 882 shares of the company’s stock worth $30,000 after purchasing an additional 536 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.
Myriad Genetics Company Profile
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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