Barclays Trims Myriad Genetics (NASDAQ:MYGN) Target Price to $21.00

Myriad Genetics (NASDAQ:MYGN) had its target price cut by Barclays from $23.00 to $21.00 in a research note released on Thursday, January 3rd. They currently have an underweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Myriad Genetics from a hold rating to a buy rating and set a $49.00 price objective on the stock in a report on Tuesday, October 23rd. ValuEngine downgraded Myriad Genetics from a strong-buy rating to a buy rating in a report on Wednesday, September 12th. BidaskClub downgraded Myriad Genetics from a strong-buy rating to a buy rating in a report on Tuesday, October 9th. Needham & Company LLC began coverage on Myriad Genetics in a report on Wednesday, January 2nd. They issued a strong-buy rating and a $36.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Myriad Genetics from $51.00 to $54.00 and gave the company an overweight rating in a research report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Myriad Genetics currently has a consensus rating of Hold and a consensus target price of $39.70.

Shares of MYGN opened at $30.26 on Thursday. Myriad Genetics has a 12-month low of $26.80 and a 12-month high of $50.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.17. The stock has a market cap of $2.28 billion, a P/E ratio of 25.22, a PEG ratio of 1.97 and a beta of 0.58.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The company had revenue of $202.30 million for the quarter, compared to the consensus estimate of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. Analysts anticipate that Myriad Genetics will post 1.5 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in shares of Myriad Genetics by 8.5% in the 4th quarter. State of Alaska Department of Revenue now owns 24,979 shares of the company’s stock valued at $726,000 after buying an additional 1,947 shares in the last quarter. CHICAGO TRUST Co NA increased its position in shares of Myriad Genetics by 50.0% in the 4th quarter. CHICAGO TRUST Co NA now owns 7,500 shares of the company’s stock valued at $218,000 after buying an additional 2,500 shares in the last quarter. Vanguard Group Inc increased its position in shares of Myriad Genetics by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 8,656,933 shares of the company’s stock valued at $398,219,000 after buying an additional 365,697 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Myriad Genetics by 7.5% in the 3rd quarter. Federated Investors Inc. PA now owns 227,919 shares of the company’s stock valued at $10,484,000 after buying an additional 15,993 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Myriad Genetics by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,656,933 shares of the company’s stock valued at $398,219,000 after buying an additional 365,697 shares in the last quarter. Institutional investors and hedge funds own 99.06% of the company’s stock.

About Myriad Genetics

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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