Myriad Genetics, Inc. (NASDAQ:MYGN) Lifted to “Buy” at BidaskClub
Myriad Genetics, Inc. (NASDAQ:MYGN) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
MYGN has been the subject of a number of other research reports. Deutsche Bank AG increased their target price 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. J P Morgan Chase & Co reiterated an “underweight” rating and set a $16.00 target price on shares of Myriad Genetics in a research report on Friday, June 30th. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Monday, July 17th. Piper Jaffray Companies reiterated a “hold” rating and set a $22.00 target price on shares of Myriad Genetics in a research report on Friday, July 14th. Finally, Cowen and Company reiterated a “hold” rating and set a $25.00 target price on shares of Myriad Genetics in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.78.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 27.76 on Friday. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $28.39. The company’s 50 day moving average is $25.18 and its 200-day moving average is $20.92. The company has a market cap of $1.89 billion, a P/E ratio of 59.32 and a beta of 0.31.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Analysts expect that Myriad Genetics will post $1.05 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Myriad Genetics during the fourth quarter valued at $14,319,000. Arizona State Retirement System bought a new stake in Myriad Genetics during the first quarter valued at $682,000. Bank of New York Mellon Corp boosted its stake in Myriad Genetics by 131.2% in the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after buying an additional 521,146 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after buying an additional 41,432 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Myriad Genetics by 958.4% in the first quarter. Great West Life Assurance Co. Can now owns 97,514 shares of the company’s stock valued at $1,870,000 after buying an additional 88,301 shares during the last quarter.
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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