Myriad Genetics (NASDAQ:MYGN) was downgraded by analysts at TheStreet from a “b” rating to a “c” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently commented on MYGN. Morgan Stanley raised Myriad Genetics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $35.00 to $55.00 in a research report on Wednesday, July 11th. Bank of America lifted their price objective on Myriad Genetics from $20.00 to $31.00 and gave the company an “underperform” rating in a research report on Monday, July 16th. ValuEngine raised Myriad Genetics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 24th. BidaskClub downgraded Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 21st. Finally, Piper Jaffray Companies lifted their price objective on Myriad Genetics to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.90.

Shares of NASDAQ:MYGN opened at $30.85 on Thursday. The firm has a market capitalization of $2.45 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The company has a quick ratio of 2.86, a current ratio of 3.17 and a debt-to-equity ratio of 0.23. Myriad Genetics has a 52 week low of $27.27 and a 52 week high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.13. The business had revenue of $202.30 million during the quarter, compared to the consensus estimate of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, research analysts anticipate that Myriad Genetics will post 1.43 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of MYGN. BlackRock Inc. grew its position in Myriad Genetics by 6.7% during the second quarter. BlackRock Inc. now owns 11,083,521 shares of the company’s stock valued at $414,192,000 after acquiring an additional 691,243 shares during the period. Mesirow Financial Investment Management Equity Management purchased a new stake in Myriad Genetics during the second quarter valued at about $14,926,000. Frontier Capital Management Co. LLC grew its position in Myriad Genetics by 18.0% during the second quarter. Frontier Capital Management Co. LLC now owns 2,376,935 shares of the company’s stock valued at $88,826,000 after acquiring an additional 362,821 shares during the period. Millennium Management LLC grew its position in Myriad Genetics by 771.2% during the second quarter. Millennium Management LLC now owns 329,754 shares of the company’s stock valued at $12,323,000 after acquiring an additional 291,902 shares during the period. Finally, Prudential Financial Inc. grew its position in Myriad Genetics by 70.3% during the third quarter. Prudential Financial Inc. now owns 606,490 shares of the company’s stock valued at $27,899,000 after acquiring an additional 250,387 shares during the period. 96.75% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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