Myriad Genetics (MYGN) Lifted to Equal Weight at Morgan Stanley

Morgan Stanley upgraded shares of Myriad Genetics (NASDAQ:MYGN) from an underweight rating to an equal weight rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has $28.00 target price on the stock.

Several other research firms have also commented on MYGN. Goldman Sachs assumed coverage on Myriad Genetics in a research report on Monday, January 29th. They issued a sell rating and a $32.00 price objective on the stock. Barclays upped their price objective on Myriad Genetics from $30.00 to $35.00 and gave the stock an equal weight rating in a research report on Monday, January 22nd. BidaskClub upgraded Myriad Genetics from a buy rating to a strong-buy rating in a research report on Saturday, January 20th. BTIG Research set a $41.00 price objective on Myriad Genetics and gave the stock a buy rating in a research report on Tuesday, January 16th. Finally, Stephens set a $45.00 price objective on Myriad Genetics and gave the stock a buy rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Myriad Genetics currently has an average rating of Hold and an average price target of $31.42.

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Shares of MYGN stock opened at $28.83 on Wednesday. The company has a market capitalization of $2,033.34, a P/E ratio of 15.58, a P/E/G ratio of 2.05 and a beta of 0.44. Myriad Genetics has a 52-week low of $17.50 and a 52-week high of $41.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.05 and a quick ratio of 1.81.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The business had revenue of $194.00 million for the quarter, compared to analyst estimates of $188.72 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. equities analysts expect that Myriad Genetics will post 1.15 EPS for the current year.

In other news, VP Gary A. King sold 3,120 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $38.12, for a total transaction of $118,934.40. Following the completion of the transaction, the vice president now directly owns 125,088 shares of the company’s stock, valued at approximately $4,768,354.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard M. Marsh sold 13,759 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $36.25, for a total value of $498,763.75. Following the transaction, the vice president now directly owns 136,385 shares of the company’s stock, valued at $4,943,956.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,533 shares of company stock valued at $2,133,272. Corporate insiders own 6.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in MYGN. Prudential Financial Inc. raised its stake in shares of Myriad Genetics by 3.9% during the 3rd quarter. Prudential Financial Inc. now owns 131,073 shares of the company’s stock worth $4,742,000 after buying an additional 4,900 shares during the period. Sei Investments Co. raised its stake in shares of Myriad Genetics by 19,816.3% during the 3rd quarter. Sei Investments Co. now owns 19,518 shares of the company’s stock worth $707,000 after buying an additional 19,420 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Myriad Genetics by 60.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 25,760 shares of the company’s stock worth $932,000 after buying an additional 9,680 shares during the period. Rhumbline Advisers raised its stake in shares of Myriad Genetics by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 137,380 shares of the company’s stock worth $4,970,000 after buying an additional 3,575 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Myriad Genetics during the 3rd quarter worth approximately $204,000.

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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; BART, a DNA sequencing test for hereditary 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; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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