BidaskClub Lowers Myriad Genetics (MYGN) to Sell

BidaskClub cut shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a sell rating in a research note released on Wednesday, BidAskClub reports.

MYGN has been the topic of several other research reports. Zacks Investment Research lowered Myriad Genetics from a buy rating to a hold rating in a report on Monday, January 21st. Cowen upgraded Myriad Genetics from a market perform rating to an outperform rating in a report on Friday, January 4th. Needham & Company LLC began coverage on Myriad Genetics in a research report on Wednesday, January 2nd. They issued a strong-buy rating and a $36.00 price objective on the stock. Finally, Barclays cut their price objective on Myriad Genetics from $23.00 to $21.00 and set an underweight rating on the stock in a research report on Thursday, January 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $40.37.

NASDAQ:MYGN opened at $31.75 on Wednesday. Myriad Genetics has a fifty-two week low of $26.05 and a fifty-two week high of $50.44. The firm has a market cap of $2.33 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.42 and a beta of 0.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.68 and a current ratio of 2.97.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, February 5th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Myriad Genetics had a return on equity of 9.79% and a net margin of 3.25%. The company had revenue of $216.80 million for the quarter, compared to analyst estimates of $217.69 million. During the same quarter in the prior year, the firm posted $0.31 EPS. Myriad Genetics’s quarterly revenue was up 15.4% compared to the same quarter last year. Sell-side analysts forecast that Myriad Genetics will post 1.49 EPS for the current year.

In other Myriad Genetics news, insider Ralph L. Mcdade sold 1,975 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $31.00, for a total value of $61,225.00. Following the transaction, the insider now owns 122,604 shares of the company’s stock, valued at approximately $3,800,724. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MYGN. Oregon Public Employees Retirement Fund bought a new position in shares of Myriad Genetics during the 4th quarter worth $28,000. Financial Gravity Companies Inc. bought a new position in shares of Myriad Genetics during the 4th quarter worth $42,000. Investors Research Corp bought a new position in shares of Myriad Genetics during the 1st quarter worth $46,000. Financial Gravity Wealth Inc. bought a new position in shares of Myriad Genetics during the 1st quarter worth $56,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Myriad Genetics by 625.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,320 shares of the company’s stock worth $77,000 after buying an additional 2,000 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

Myriad Genetics Company Profile

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.

Further Reading: Preferred Stock

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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