Myriad Genetics (NASDAQ:MYGN) Upgraded to Outperform at SVB Leerink

SVB Leerink upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a market perform rating to an outperform rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $35.00 target price on the stock, up from their previous target price of $25.00.

Separately, The Goldman Sachs Group increased their price target on shares of Myriad Genetics from $28.00 to $31.00 and gave the stock a buy rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $24.86.

Myriad Genetics Stock Up 3.7 %

NASDAQ:MYGN traded up $0.89 during trading hours on Wednesday, reaching $24.84. 226,767 shares of the stock were exchanged, compared to its average volume of 658,621. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.87. The firm has a 50 day moving average of $20.64 and a 200 day moving average of $19.91. The stock has a market cap of $2.25 billion, a PE ratio of -7.48 and a beta of 1.96. Myriad Genetics has a twelve month low of $13.82 and a twelve month high of $25.12.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The firm had revenue of $202.20 million during the quarter, compared to the consensus estimate of $193.51 million. During the same period last year, the company earned ($0.28) earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Myriad Genetics will post -0.36 earnings per share for the current year.

Institutional Trading of Myriad Genetics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its stake in shares of Myriad Genetics by 8.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,107 shares of the company’s stock worth $583,000 after buying an additional 2,050 shares during the period. ProShare Advisors LLC raised its stake in Myriad Genetics by 14.2% during the 1st quarter. ProShare Advisors LLC now owns 23,993 shares of the company’s stock worth $512,000 after acquiring an additional 2,990 shares during the period. Sei Investments Co. lifted its holdings in Myriad Genetics by 6.1% during the first quarter. Sei Investments Co. now owns 2,293,185 shares of the company’s stock valued at $48,891,000 after purchasing an additional 131,751 shares in the last quarter. Swiss National Bank boosted its position in shares of Myriad Genetics by 8.2% in the first quarter. Swiss National Bank now owns 174,700 shares of the company’s stock worth $3,725,000 after purchasing an additional 13,300 shares during the period. Finally, AMH Equity Ltd purchased a new stake in shares of Myriad Genetics in the first quarter worth $2,345,000. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Company Profile

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.