Myriad Genetics, Inc. (MYGN) Rating Reiterated by Cowen and Company
Myriad Genetics, Inc. (NASDAQ:MYGN)‘s stock had its “hold” rating restated by equities research analysts at Cowen and Company in a research note issued to investors on Sunday. They presently have a $25.00 price target on the stock. Cowen and Company’s price objective would indicate a potential downside of 23.94% from the company’s current price.
MYGN has been the subject of a number of other research reports. Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and cut their price target for the stock from $27.86 to $15.00 in a research note on Friday, August 18th. BidaskClub cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. J P Morgan Chase & Co reissued an “underweight” rating and issued a $16.00 price target on shares of Myriad Genetics in a research note on Friday, June 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $22.00 price target on shares of Myriad Genetics in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Myriad Genetics presently has a consensus rating of “Hold” and a consensus price target of $21.22.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 32.87 on Friday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 103.04 and a beta of 0.26. Myriad Genetics has a 52-week low of $15.15 and a 52-week high of $33.42. The company’s 50 day moving average is $28.75 and its 200 day moving average is $23.22.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business had revenue of $200.50 million during the quarter, compared to analysts’ expectations of $193.71 million. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts anticipate that Myriad Genetics will post $1.02 earnings per share for the current year.
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In other news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the completion of the sale, the director now owns 52,524 shares of the company’s stock, valued at approximately $1,591,477.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of MYGN. SG Americas Securities LLC bought a new stake in Myriad Genetics during the 2nd quarter valued at $101,000. Riverhead Capital Management LLC raised its holdings in Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after buying an additional 1,861 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Myriad Genetics during the 1st quarter valued at $112,000. Fiduciary Trust Co. bought a new stake in Myriad Genetics during the 2nd quarter valued at $113,000. Finally, Ronald Blue & Co. LLC bought a new stake in Myriad Genetics during the 2nd quarter valued at $208,000.
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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