Myriad Genetics (NASDAQ:MYGN) has been given a $45.00 price objective by research analysts at Stephens in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Stephens’ target price suggests a potential upside of 30.89% from the stock’s previous close.
The analysts wrote, “We initiate coverage of Nightstar Therapeutics (NITE) with a Buy rating (PT$40), on the market opportunity likely addressed by NSR- REP1 in choroideremia (CHM). Choroideremia is a rare, inherited degenerative disease of the retina that typically has onsets in childhood or early adolescence. Patients then progress to reach legal or complete blindness in their 40s or 50s. There are currently no FDA-approved disease-modifying therapies for CHM. Nightstar’s lead asset, AAV-based gene therapy, NSR-REP1, is due to enter the 140-patient pivotal phase III STAR trial in 1H18 for the treatment of CHM. With the Lancet-published phase I/II data for NSR-REP1 in CHM, and subsequent updates from the multi-center program, Nightstar has been able to show that all NSR-REP1- treated patients who received the therapeutic dose were able to maintain vision to 5 years after treatment.””
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Friday, December 15th. ValuEngine cut Myriad Genetics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Deutsche Bank raised their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Morgan Stanley raised their target price on Myriad Genetics from $24.00 to $26.00 and gave the stock an “underweight” rating in a report on Wednesday, November 8th. Finally, Leerink Swann restated a “market perform” rating and set a $31.00 target price on shares of Myriad Genetics in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $29.73.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $183.52 million. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. research analysts predict that Myriad Genetics will post 1.05 earnings per share for the current fiscal year.
In other news, Director Heinrich Dreismann sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $33.50, for a total transaction of $201,000.00. Following the sale, the director now owns 33,743 shares of the company’s stock, valued at $1,130,390.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Walter Phd Gilbert sold 7,500 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $33.19, for a total value of $248,925.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,531 shares of company stock worth $545,826. 6.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Myriad Genetics in the 2nd quarter valued at approximately $101,000. Riverhead Capital Management LLC raised its position in Myriad Genetics by 80.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after buying an additional 1,861 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Myriad Genetics in the 2nd quarter valued at approximately $113,000. Meeder Asset Management Inc. raised its position in Myriad Genetics by 1,067.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after buying an additional 3,010 shares during the last quarter. Finally, Tiedemann Wealth Management LLC raised its position in Myriad Genetics by 67.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock valued at $185,000 after buying an additional 5,475 shares during the last quarter.
Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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