Cowen and Company Reiterates “Hold” Rating for Myriad Genetics, Inc. (NASDAQ:MYGN)
Myriad Genetics, Inc. (NASDAQ:MYGN)‘s stock had its “hold” rating reiterated by stock analysts at Cowen and Company in a research report issued on Friday. They currently have a $25.00 price objective on the stock. Cowen and Company’s price objective points to a potential upside of 1.21% from the company’s previous close.
Several other equities analysts have also recently weighed in on MYGN. Jefferies Group LLC reiterated a “hold” rating and set a $18.00 price objective on shares of Myriad Genetics in a research report on Friday, March 24th. Deutsche Bank AG lifted their price objective on shares of Myriad Genetics from $15.00 to $20.00 and gave the stock a “sell” rating in a research report on Monday, May 8th. BidaskClub upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, J P Morgan Chase & Co restated an “underweight” rating and set a $16.00 price target on shares of Myriad Genetics in a report on Friday, June 30th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $22.00.
Myriad Genetics (MYGN) opened at 24.70 on Friday. The company has a 50 day moving average price of $22.64 and a 200 day moving average price of $19.25. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $32.54. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 52.78 and a beta of 0.32.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Myriad Genetics had a net margin of 4.26% and a return on equity of 10.53%. The firm had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $188.89 million. Equities research analysts predict that Myriad Genetics will post $1.01 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in MYGN. Ameritas Investment Partners Inc. purchased a new position in Myriad Genetics during the first quarter worth $112,000. Creative Planning raised its position in Myriad Genetics by 11.8% in the first quarter. Creative Planning now owns 6,371 shares of the company’s stock worth $122,000 after buying an additional 671 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Myriad Genetics during the first quarter worth $144,000. Karp Capital Management Corp purchased a new position in Myriad Genetics during the first quarter worth $223,000. Finally, Opus Point Partners Management LLC purchased a new position in Myriad Genetics during the fourth quarter worth $232,000.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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