Myriad Genetics (MYGN) Lowered to “C” at TheStreet

Myriad Genetics (NASDAQ:MYGN) was downgraded by TheStreet from a “b” rating to a “c” rating in a research report issued on Thursday.

Several other brokerages have also weighed in on MYGN. Piper Jaffray Companies upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $53.00 in a report on Wednesday, October 10th. Barclays upped their price objective on Myriad Genetics from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, August 22nd. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Friday, August 24th. ValuEngine lowered Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Finally, BidaskClub lowered Myriad Genetics from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.90.

Shares of Myriad Genetics stock traded down $0.31 during trading on Thursday, hitting $30.85. The stock had a trading volume of 1,369,527 shares, compared to its average volume of 1,155,791. The company has a quick ratio of 2.86, a current ratio of 3.17 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. Myriad Genetics has a fifty-two week low of $27.27 and a fifty-two week high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.13. The business had revenue of $202.30 million during the quarter, compared to analyst estimates of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Analysts anticipate that Myriad Genetics will post 1.43 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Robecosam AG raised its position in shares of Myriad Genetics by 39.8% during the second quarter. Robecosam AG now owns 4,193 shares of the company’s stock worth $156,000 after purchasing an additional 1,193 shares during the period. First Quadrant L P CA acquired a new stake in shares of Myriad Genetics during the third quarter worth $201,000. Parametrica Management Ltd acquired a new stake in shares of Myriad Genetics during the third quarter worth $204,000. Royal Bank of Canada raised its position in shares of Myriad Genetics by 59.5% during the first quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock worth $136,000 after purchasing an additional 1,715 shares during the period. Finally, CHICAGO TRUST Co NA acquired a new stake in shares of Myriad Genetics during the third quarter worth $230,000. 96.75% of the stock is currently owned by institutional investors.

About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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