Myriad Genetics, Inc. (MYGN) Rating Reiterated by Leerink Swann
Leerink Swann reaffirmed their market perform rating on shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in a report released on Monday, Marketbeat.com reports. The firm currently has a $31.00 target price on the stock. Leerink Swann also issued estimates for Myriad Genetics’ Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.03 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.30 EPS and FY2019 earnings at $1.13 EPS.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Myriad Genetics from a hold rating to a buy rating and set a $28.00 target price on the stock in a research report on Monday, July 17th. J P Morgan Chase & Co reissued an underweight rating and issued a $16.00 target price on shares of Myriad Genetics in a research report on Friday, June 30th. BidaskClub raised Myriad Genetics from a hold rating to a buy rating in a research report on Saturday, June 17th. Cowen and Company reissued a hold rating and issued a $25.00 target price on shares of Myriad Genetics in a research report on Friday, July 14th. Finally, Piper Jaffray Companies reissued a hold rating and issued a $22.00 target price on shares of Myriad Genetics in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $24.20.
Myriad Genetics (NASDAQ MYGN) opened at 36.51 on Monday. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $37.14. The company has a 50-day moving average price of $32.41 and a 200-day moving average price of $24.80. The firm has a market cap of $2.50 billion, a P/E ratio of 114.45 and a beta of 0.28.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The business had revenue of $200.50 million for the quarter, compared to analyst estimates of $193.71 million. During the same quarter last year, the firm earned $0.36 EPS. Myriad Genetics’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts predict that Myriad Genetics will post $1.02 earnings per share for the current year.
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In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $30.30, for a total transaction of $909,000.00. Following the transaction, the director now owns 52,524 shares of the company’s stock, valued at approximately $1,591,477.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Myriad Genetics during the 2nd quarter worth approximately $101,000. Riverhead Capital Management LLC boosted its stake in shares of Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock worth $107,000 after acquiring an additional 1,861 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Myriad Genetics during the 1st quarter worth approximately $112,000. Fiduciary Trust Co. bought a new position in shares of Myriad Genetics during the 2nd quarter worth approximately $113,000. Finally, Ronald Blue & Co. LLC bought a new position in shares of Myriad Genetics during the 2nd quarter worth approximately $208,000.
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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