Myriad Genetics, Inc. (NASDAQ:MYGN)‘s stock had its “hold” rating reiterated by Cowen and Company in a research report issued to clients and investors on Friday. They currently have a $25.00 price target on the stock. Cowen and Company’s price target suggests a potential upside of 1.21% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. BidaskClub upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Jefferies Group LLC restated a “hold” rating and issued a $21.00 price target (up previously from $18.00) on shares of Myriad Genetics in a report on Wednesday, May 3rd. Deutsche Bank AG upped their price target on Myriad Genetics from $15.00 to $20.00 and gave the stock a “sell” rating in a report on Monday, May 8th. Finally, J P Morgan Chase & Co restated an “underweight” rating and issued a $16.00 price target on shares of Myriad Genetics in a report on Friday, June 30th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $22.00.
Myriad Genetics (NASDAQ MYGN) opened at 24.70 on Friday. The stock has a market cap of $1.68 billion, a P/E ratio of 52.78 and a beta of 0.32. Myriad Genetics has a 52-week low of $15.15 and a 52-week high of $32.54. The stock has a 50 day moving average price of $22.64 and a 200 day moving average price of $19.25.
Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, May 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Myriad Genetics had a return on equity of 10.53% and a net margin of 4.26%. The company had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $188.89 million. On average, equities research analysts forecast that Myriad Genetics will post $1.01 EPS for the current year.
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A number of large investors have recently made changes to their positions in MYGN. BlackRock Inc. boosted its stake in shares of Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after buying an additional 9,536,219 shares during the period. Vanguard Group Inc. raised its position in shares of Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock worth $120,020,000 after buying an additional 897,287 shares in the last quarter. Camber Capital Management LLC raised its position in shares of Myriad Genetics by 6.5% in the first quarter. Camber Capital Management LLC now owns 4,325,000 shares of the company’s stock worth $83,040,000 after buying an additional 265,000 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock worth $59,058,000 after buying an additional 41,432 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Myriad Genetics by 59.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock worth $50,742,000 after buying an additional 987,966 shares in the last quarter.
About Myriad Genetics
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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