Myriad Genetics (NASDAQ:MYGN) Price Target Raised to $6.00

Myriad Genetics (NASDAQ:MYGN) had its target price raised by Stephens from $3.00 to $6.00 in a research report released on Thursday, MarketBeat Ratings reports. They currently have an equal weight rating on the stock.

MYGN has been the subject of several other research reports. Weiss Ratings downgraded shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 27th. Zacks Research upgraded Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 15th. UBS Group assumed coverage on Myriad Genetics in a research note on Wednesday, September 9th. They set a “neutral” rating and a $3.60 price target on the stock. Leerink Partners boosted their price objective on Myriad Genetics from $5.00 to $8.00 and gave the company a “market perform” rating in a report on Thursday, November 5th. Finally, Craig Hallum raised their target price on Myriad Genetics from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.98.

Myriad Genetics Trading Down 0.4%

NASDAQ MYGN traded down $0.02 during trading hours on Thursday, reaching $5.66. The company had a trading volume of 1,049,381 shares, compared to its average volume of 3,265,667. The company has a current ratio of 1.98, a quick ratio of 1.77 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $542.91 million, a P/E ratio of -4.16 and a beta of 1.62. The stock has a 50-day moving average of $4.75 and a 200 day moving average of $4.62. Myriad Genetics has a 1-year low of $2.74 and a 1-year high of $8.09.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. The business had revenue of $202.70 million during the quarter, compared to analysts’ expectations of $191.33 million. Myriad Genetics had a negative net margin of 16.07% and a negative return on equity of 19.87%. As a group, research analysts anticipate that Myriad Genetics will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Myriad Genetics

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP boosted its holdings in Myriad Genetics by 69.5% in the third quarter. Marshall Wace LLP now owns 2,072,548 shares of the company’s stock valued at $8,933,000 after purchasing an additional 849,744 shares during the period. Royce & Associates LP raised its position in Myriad Genetics by 86.4% in the 3rd quarter. Royce & Associates LP now owns 21,904 shares of the company’s stock valued at $94,000 after purchasing an additional 10,156 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Myriad Genetics in the 3rd quarter valued at about $117,000. State of Wyoming raised its position in Myriad Genetics by 9.5% in the 3rd quarter. State of Wyoming now owns 117,979 shares of the company’s stock valued at $508,000 after purchasing an additional 10,196 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in shares of Myriad Genetics in the 3rd quarter valued at about $44,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics, Inc. is a molecular diagnostics company that develops and provides genetic tests to help inform healthcare decisions. Its offerings include tests for hereditary cancer risk, tumor biology and prognosis, reproductive health, and how patients may respond to certain medications. Its products include MyRisk, which assesses inherited cancer risk; GeneSight, a pharmacogenomic test intended to help guide psychiatric medication decisions; and Prolaris, which helps assess the aggressiveness of prostate cancer.