Myriad Genetics (NASDAQ:MYGN) updated its first quarter 2020 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.30-0.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.42. The company issued revenue guidance of $200-202 million, compared to the consensus revenue estimate of $217.35 million.Myriad Genetics also updated its FY 2020 guidance to $1.80-1.90 EPS.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Myriad Genetics from a sell rating to a hold rating and set a $30.00 target price on the stock in a research report on Monday, July 1st. ValuEngine upgraded Myriad Genetics from a sell rating to a hold rating in a report on Thursday, August 1st. Barclays upgraded Myriad Genetics from an underweight rating to an equal weight rating and raised their price objective for the company from $18.00 to $40.00 in a report on Thursday, August 1st. BidaskClub upgraded Myriad Genetics from a hold rating to a buy rating in a report on Tuesday, August 6th. Finally, Bank of America upgraded Myriad Genetics from an underperform rating to a neutral rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $39.94.
MYGN stock traded down $0.73 during midday trading on Tuesday, reaching $44.55. The stock had a trading volume of 1,427,956 shares, compared to its average volume of 1,043,926. The firm has a fifty day moving average price of $31.56. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.31 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81. Myriad Genetics has a 52-week low of $22.07 and a 52-week high of $50.44.
In other news, CFO Richard Bryan Riggsbee sold 25,000 shares of Myriad Genetics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $41.50, for a total transaction of $1,037,500.00. Following the transaction, the chief financial officer now owns 120,566 shares in the company, valued at approximately $5,003,489. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Gary A. King sold 60,000 shares of Myriad Genetics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $43.49, for a total value of $2,609,400.00. Following the transaction, the vice president now owns 164,871 shares in the company, valued at approximately $7,170,239.79. The disclosure for this sale can be found here. Insiders sold a total of 96,712 shares of company stock worth $4,115,380 in the last 90 days. 5.80% of the stock is currently owned by insiders.
About Myriad Genetics
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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