Myriad Genetics (MYGN) Price Target Raised to $35.00 at Leerink Swann
Myriad Genetics (NASDAQ:MYGN) had its target price raised by Leerink Swann from $33.00 to $35.00 in a report released on Wednesday. They currently have a market perform rating on the stock. Leerink Swann also issued estimates for Myriad Genetics’ Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $1.14 EPS, Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.33 EPS and FY2019 earnings at $1.20 EPS.
MYGN has been the subject of a number of other reports. BTIG Research started coverage on Myriad Genetics in a research note on Friday, January 5th. They issued a buy rating and a $41.00 target price for the company. Barclays restated a hold rating and issued a $30.00 target price on shares of Myriad Genetics in a research note on Monday, January 8th. Zacks Investment Research upgraded Myriad Genetics from a hold rating to a strong-buy rating and set a $42.00 target price for the company in a research note on Tuesday, October 17th. Goldman Sachs Group started coverage on Myriad Genetics in a research note on Monday, January 29th. They issued a sell rating and a $32.00 target price for the company. Finally, ValuEngine upgraded Myriad Genetics from a hold rating to a buy rating in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Myriad Genetics currently has a consensus rating of Hold and a consensus target price of $31.42.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at $32.96 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. Myriad Genetics has a fifty-two week low of $15.71 and a fifty-two week high of $41.57. The firm has a market capitalization of $2,278.52, a PE ratio of 17.82, a P/E/G ratio of 2.41 and a beta of 0.32.
In other news, insider Alexander Ford sold 3,031 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $31.64, for a total transaction of $95,900.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Heinrich Dreismann sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $33.50, for a total value of $201,000.00. Following the transaction, the director now owns 33,743 shares of the company’s stock, valued at $1,130,390.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,064 shares of company stock valued at $2,679,097. Insiders own 6.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Myriad Genetics by 1.5% during the fourth quarter. BlackRock Inc. now owns 10,066,753 shares of the company’s stock worth $345,743,000 after buying an additional 150,003 shares during the period. Vanguard Group Inc. lifted its position in Myriad Genetics by 0.9% in the second quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock worth $162,992,000 after purchasing an additional 56,708 shares during the period. Dimensional Fund Advisors LP lifted its position in Myriad Genetics by 4.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock worth $129,527,000 after purchasing an additional 149,865 shares during the period. Acadian Asset Management LLC lifted its position in Myriad Genetics by 18.4% in the fourth quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock worth $75,743,000 after purchasing an additional 343,196 shares during the period. Finally, Northern Trust Corp lifted its position in Myriad Genetics by 31.1% in the second quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock worth $33,400,000 after purchasing an additional 306,276 shares during the period.
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.
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