Myriad Genetics (NASDAQ:MYGN) PT Raised to $20.00 at Barclays

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Myriad Genetics (NASDAQ:MYGN) had its price objective hoisted by investment analysts at Barclays from $18.00 to $20.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential downside of 23.05% from the stock’s previous close.

MYGN has been the subject of several other reports. Zacks Investment Research cut shares of Myriad Genetics from a “hold” rating to a “sell” rating and set a $25.00 price objective for the company. in a research note on Wednesday, May 29th. ValuEngine cut shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “strong-buy” rating and set a $32.00 price objective on shares of Myriad Genetics in a research note on Tuesday, May 14th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.41.

MYGN stock opened at $25.99 on Friday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.15 and a quick ratio of 2.86. Myriad Genetics has a one year low of $23.08 and a one year high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $217.76 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, sell-side analysts expect that Myriad Genetics will post 1.44 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc lifted its holdings in shares of Myriad Genetics by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 8,656,933 shares of the company’s stock valued at $398,219,000 after acquiring an additional 365,697 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Myriad Genetics by 27.8% during the 4th quarter. Rhumbline Advisers now owns 207,061 shares of the company’s stock valued at $6,019,000 after acquiring an additional 45,070 shares in the last quarter. Creative Planning lifted its holdings in shares of Myriad Genetics by 37.2% during the 4th quarter. Creative Planning now owns 7,933 shares of the company’s stock valued at $231,000 after acquiring an additional 2,150 shares in the last quarter. Hartford Investment Management Co. lifted its holdings in shares of Myriad Genetics by 70.7% during the 4th quarter. Hartford Investment Management Co. now owns 11,828 shares of the company’s stock valued at $344,000 after acquiring an additional 4,900 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in shares of Myriad Genetics by 35.7% during the 4th quarter. ClariVest Asset Management LLC now owns 89,974 shares of the company’s stock valued at $2,615,000 after acquiring an additional 23,687 shares in the last quarter. 99.22% of the stock is owned by 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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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