Needham & Company LLC restated their strong-buy rating on shares of Myriad Genetics (NASDAQ:MYGN) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $41.00 price target on the stock, up from their previous price target of $37.00.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Myriad Genetics from a hold rating to a buy rating and set a $34.00 target price for the company in a research report on Friday, January 11th. BidaskClub downgraded shares of Myriad Genetics from a hold rating to a sell rating in a research report on Tuesday, November 13th. Barclays cut their target price on shares of Myriad Genetics from $23.00 to $21.00 and set an underweight rating for the company in a research report on Thursday, January 3rd. Finally, Goldman Sachs Group upgraded shares of Myriad Genetics from a sell rating to a neutral rating and increased their target price for the stock from $28.00 to $32.00 in a research report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Myriad Genetics currently has an average rating of Hold and an average target price of $40.37.

MYGN stock opened at $34.14 on Tuesday. Myriad Genetics has a 12-month low of $26.05 and a 12-month high of $50.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.97 and a quick ratio of 2.68. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.83 and a beta of 0.57.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, February 5th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Myriad Genetics had a net margin of 3.25% and a return on equity of 9.79%. The company had revenue of $216.80 million during the quarter, compared to the consensus estimate of $217.69 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, research analysts expect that Myriad Genetics will post 1.49 earnings per share for the current fiscal year.

In other news, insider Ralph L. Mcdade sold 1,975 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $31.00, for a total transaction of $61,225.00. Following the transaction, the insider now owns 122,604 shares in the company, valued at approximately $3,800,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in shares of Myriad Genetics during the 4th quarter valued at $42,000. Quantbot Technologies LP bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $130,000. Quantamental Technologies LLC bought a new position in shares of Myriad Genetics during the 4th quarter valued at $123,000. Ibex Investors LLC bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $202,000. Finally, Parametrica Management Ltd bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 99.21% 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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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