Myriad Genetics (NASDAQ:MYGN) Announces Earnings Results, Misses Estimates By $0.12 EPS

Myriad Genetics (NASDAQ:MYGN - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12), Zacks reports. 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 during the quarter, compared to analyst estimates of $210.35 million. During the same period in the previous year, the company posted ($0.12) EPS.

Myriad Genetics Stock Performance

NASDAQ MYGN traded down $0.18 during trading hours on Wednesday, reaching $11.56. 1,739,761 shares of the company were exchanged, compared to its average volume of 1,155,118. The business's 50 day simple moving average is $13.41 and its 200-day simple moving average is $19.27. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 1 year low of $9.76 and a 1 year high of $29.30. The stock has a market capitalization of $1.05 billion, a P/E ratio of -8.89 and a beta of 1.88.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MYGN. UBS Group lowered their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday. Stephens restated an "equal weight" rating and issued a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Raymond James reiterated an "outperform" rating and set a $19.00 target price (down from $27.00) on shares of Myriad Genetics in a research note on Tuesday. The Goldman Sachs Group decreased their price objective on shares of Myriad Genetics from $29.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, Craig Hallum began coverage on shares of Myriad Genetics in a report on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.14.

About Myriad Genetics

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.