Myriad Genetics (NASDAQ:MYGN) had its target price upped by analysts at Deutsche Bank from $37.00 to $43.00 in a note issued to investors on Monday. The firm presently has a “hold” rating on the stock. Deutsche Bank’s price target would indicate a potential upside of 12.24% from the company’s previous close.
MYGN has been the subject of several other reports. Barclays upped their target price on shares of Myriad Genetics from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 22nd. Zacks Investment Research downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Piper Jaffray Companies upgraded shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $38.00 to $53.00 in a research note on Wednesday, October 10th. BidaskClub upgraded shares of Myriad Genetics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 29th. Finally, Bank of America upped their target price on shares of Myriad Genetics from $20.00 to $31.00 and gave the company an “underperform” rating in a research note on Monday, July 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $41.90.
Shares of MYGN stock traded down $0.11 on Monday, hitting $38.31. The stock had a trading volume of 1,068,741 shares, compared to its average volume of 756,937. The company has a market capitalization of $2.87 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.36 and a beta of 0.51. The company has a current ratio of 3.19, a quick ratio of 2.86 and a debt-to-equity ratio of 0.01. Myriad Genetics has a 52-week low of $27.27 and a 52-week high of $50.44.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 21st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $200.90 million during the quarter, compared to the consensus estimate of $195.93 million. Myriad Genetics had a net margin of 17.69% and a return on equity of 9.78%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. Equities research analysts predict that Myriad Genetics will post 1.41 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of MYGN. BlackRock Inc. raised its holdings in Myriad Genetics by 6.7% in the second quarter. BlackRock Inc. now owns 11,083,521 shares of the company’s stock valued at $414,192,000 after acquiring an additional 691,243 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in Myriad Genetics in the second quarter valued at $14,926,000. Frontier Capital Management Co. LLC raised its holdings in Myriad Genetics by 18.0% in the second quarter. Frontier Capital Management Co. LLC now owns 2,376,935 shares of the company’s stock valued at $88,826,000 after acquiring an additional 362,821 shares in the last quarter. Millennium Management LLC raised its holdings in Myriad Genetics by 771.2% in the second quarter. Millennium Management LLC now owns 329,754 shares of the company’s stock valued at $12,323,000 after acquiring an additional 291,902 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Myriad Genetics by 100.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 456,440 shares of the company’s stock valued at $19,029,000 after acquiring an additional 228,220 shares in the last quarter. 96.75% of the stock is currently owned by hedge funds and other 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.
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