StockNews.com cut shares of Myriad Genetics (NASDAQ:MYGN - Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.
Several other equities research analysts have also recently weighed in on MYGN. Stephens restated an "equal weight" rating and issued a $20.00 price objective on shares of Myriad Genetics in a research report on Thursday, January 16th. Leerink Partners cut shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Piper Sandler dropped their price objective on shares of Myriad Genetics from $24.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Leerink Partnrs downgraded Myriad Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. Finally, Craig Hallum initiated coverage on Myriad Genetics in a research note on Wednesday, February 12th. They issued a "buy" rating and a $29.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics currently has an average rating of "Hold" and a consensus target price of $22.14.
Check Out Our Latest Stock Report on MYGN
Myriad Genetics Price Performance
Shares of NASDAQ:MYGN traded down $1.86 during trading on Thursday, reaching $11.92. The stock had a trading volume of 1,725,169 shares, compared to its average volume of 1,116,097. The stock has a market capitalization of $1.08 billion, a PE ratio of -9.16 and a beta of 1.88. Myriad Genetics has a 52 week low of $9.76 and a 52 week high of $29.30. The business's 50-day moving average price is $13.45 and its 200 day moving average price is $19.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted ($0.12) EPS. As a group, equities analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.
Institutional Trading of Myriad Genetics
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in Myriad Genetics during the third quarter valued at approximately $32,000. Sterling Capital Management LLC boosted its position in shares of Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after purchasing an additional 2,556 shares in the last quarter. KBC Group NV grew its holdings in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock valued at $80,000 after buying an additional 3,334 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock valued at $87,000 after buying an additional 583 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company's stock worth $132,000 after buying an additional 1,471 shares during the period. 99.02% of the stock is owned by institutional investors.
Myriad Genetics Company Profile
(
Get Free Report)
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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