Myriad Genetics, Inc. (NASDAQ:MYGN) Updates FY18 Earnings Guidance
Myriad Genetics, Inc. (NASDAQ:MYGN) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.00-1.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.08. The company issued revenue guidance of $750-770 million, compared to the consensus revenue estimate of $789.30 million.Myriad Genetics also updated its Q1 guidance to $0.19-0.21 EPS.
Shares of Myriad Genetics, Inc. (NASDAQ MYGN) traded up 1.35% during midday trading on Tuesday, reaching $25.55. 1,863,830 shares of the company were exchanged. Myriad Genetics, Inc. has a 12-month low of $15.15 and a 12-month high of $31.49. The company has a 50 day moving average price of $24.97 and a 200-day moving average price of $20.53. The stock has a market capitalization of $1.74 billion, a P/E ratio of 54.59 and a beta of 0.31.
MYGN has been the subject of several recent analyst reports. Jefferies Group LLC restated a hold rating and issued a $21.00 price target (up from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. Deutsche Bank AG upped their price objective on Myriad Genetics from $15.00 to $20.00 and gave the stock a sell rating in a report on Monday, May 8th. BidaskClub raised Myriad Genetics from a sell rating to a hold rating in a report on Friday, June 9th. J P Morgan Chase & Co reaffirmed an underweight rating and set a $16.00 price objective on shares of Myriad Genetics in a report on Friday, June 30th. Finally, Cowen and Company reaffirmed a hold rating and set a $25.00 price objective on shares of Myriad Genetics in a report on Friday, July 14th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Myriad Genetics currently has a consensus rating of Hold and a consensus price target of $21.77.
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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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