Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $7.35 and last traded at $7.37, with a volume of 110735 shares trading hands. The stock had previously closed at $7.64.
Wall Street Analyst Weigh In
Several research firms have weighed in on MYGN. Scotiabank lowered their price objective on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 1st. Guggenheim lowered Myriad Genetics from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. The Goldman Sachs Group decreased their price objective on Myriad Genetics from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Stephens reiterated an "equal weight" rating and issued a $20.00 target price on shares of Myriad Genetics in a report on Thursday, January 16th. Finally, Bank of America reduced their price target on shares of Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a research report on Monday, March 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Myriad Genetics currently has an average rating of "Hold" and a consensus target price of $20.61.
Check Out Our Latest Stock Analysis on Myriad Genetics
Myriad Genetics Price Performance
The company's 50-day simple moving average is $9.55 and its 200 day simple moving average is $13.76. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $683.91 million, a price-to-earnings ratio of -5.71 and a beta of 1.87.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The company had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same period in the prior year, the company posted ($0.12) EPS. Equities research analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current year.
Institutional Trading of Myriad Genetics
Large investors have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after acquiring an additional 2,556 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Myriad Genetics by 520.8% in the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after purchasing an additional 3,750 shares during the period. KBC Group NV lifted its position in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after purchasing an additional 3,334 shares during the last quarter. M.E. Allison & CO. Inc. bought a new stake in Myriad Genetics during the 1st quarter valued at approximately $93,000. Finally, Blue Trust Inc. grew its holdings in Myriad Genetics by 57.0% in the 1st quarter. Blue Trust Inc. now owns 14,367 shares of the company's stock valued at $127,000 after buying an additional 5,214 shares during the last quarter. 99.02% of the stock is owned by institutional investors.
About Myriad Genetics
(
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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