Myriad Genetics (NASDAQ:MYGN) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a sell rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

MYGN has been the topic of several other reports. BidaskClub upgraded Myriad Genetics from a sell rating to a hold rating in a research report on Saturday, May 4th. Zacks Investment Research upgraded Myriad Genetics from a sell rating to a hold rating and set a $30.00 target price on the stock in a research report on Monday, July 1st. Barclays upgraded Myriad Genetics from an underweight rating to an equal weight rating and raised their target price for the company from $18.00 to $40.00 in a research report on Thursday. Needham & Company LLC cut Myriad Genetics from a strong-buy rating to a hold rating in a research report on Monday, July 29th. Finally, Cowen cut Myriad Genetics from an outperform rating to a market perform rating and set a $26.64 target price on the stock. in a research report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $39.94.

MYGN traded down $1.67 during trading hours on Thursday, hitting $45.41. The company’s stock had a trading volume of 88,305 shares, compared to its average volume of 1,186,201. Myriad Genetics has a fifty-two week low of $22.07 and a fifty-two week high of $50.44. The company has a quick ratio of 2.86, a current ratio of 3.15 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 3.84 and a beta of 0.81. The business’s 50-day moving average is $27.20.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, May 7th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. The business had revenue of $216.60 million during the quarter, compared to analyst estimates of $217.76 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. Equities analysts expect that Myriad Genetics will post 1.44 earnings per share for the current year.

In other Myriad Genetics news, insider Bernard Tobin sold 11,712 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.00, for a total transaction of $468,480.00. Following the completion of the transaction, the insider now directly owns 146,040 shares of the company’s stock, valued at approximately $5,841,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Bryan Riggsbee sold 25,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $41.50, for a total value of $1,037,500.00. Following the transaction, the chief financial officer now directly owns 120,566 shares of the company’s stock, valued at $5,003,489. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,712 shares of company stock valued at $4,115,380. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pearl River Capital LLC boosted its holdings in Myriad Genetics by 154.9% during the 1st quarter. Pearl River Capital LLC now owns 882 shares of the company’s stock valued at $30,000 after acquiring an additional 536 shares during the period. Investors Research Corp purchased a new stake in shares of Myriad Genetics in the first quarter worth about $46,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Myriad Genetics in the first quarter worth about $56,000. Nisa Investment Advisors LLC boosted its position in shares of Myriad Genetics by 625.0% in the first 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 during the period. Finally, Clarus Wealth Advisors boosted its position in shares of Myriad Genetics by 126.2% in the second quarter. Clarus Wealth Advisors now owns 3,393 shares of the company’s stock worth $94,000 after buying an additional 1,893 shares during the period. 99.22% of the stock is owned by hedge funds and other 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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