Myriad Genetics (NASDAQ:MYGN) Downgraded by StockNews.com to "Hold"

Myriad Genetics (NASDAQ:MYGN - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Thursday.

A number of other equities analysts also recently issued reports on MYGN. Stephens restated an "equal weight" rating and issued a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. Craig Hallum initiated coverage on Myriad Genetics in a research note on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price target on the stock. Leerink Partnrs downgraded Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. Leerink Partners downgraded Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, Morgan Stanley dropped their price target on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Myriad Genetics currently has a consensus rating of "Hold" and an average target price of $21.89.

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Myriad Genetics Stock Performance

Shares of MYGN opened at $10.41 on Thursday. The business's fifty day simple moving average is $12.74 and its two-hundred day simple moving average is $17.99. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 12 month low of $9.36 and a 12 month high of $29.30. The company has a market cap of $950.53 million, a price-to-earnings ratio of -8.01 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million for the quarter, compared to analysts' expectations of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter in the prior year, the business posted ($0.12) earnings per share. Research analysts anticipate that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Myriad Genetics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Atria Investments Inc raised its holdings in Myriad Genetics by 5.4% during the third quarter. Atria Investments Inc now owns 11,414 shares of the company's stock valued at $313,000 after acquiring an additional 581 shares during the period. Point72 Hong Kong Ltd bought a new stake in Myriad Genetics during the third quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company's stock valued at $132,000 after acquiring an additional 1,471 shares during the period. Blue Trust Inc. raised its holdings in Myriad Genetics by 14.1% during the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company's stock valued at $198,000 after acquiring an additional 1,788 shares during the period. Finally, Swiss National Bank raised its holdings in Myriad Genetics by 1.0% during the fourth quarter. Swiss National Bank now owns 178,600 shares of the company's stock valued at $2,449,000 after acquiring an additional 1,800 shares during the period. 99.02% of the stock is owned by institutional investors.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.

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