Myriad Genetics (NASDAQ:MYGN) Lowered to Hold Rating by StockNews.com

Myriad Genetics (NASDAQ:MYGN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

MYGN has been the subject of a number of other reports. Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Craig Hallum assumed coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price objective for the company. The Goldman Sachs Group reduced their price objective on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Bank of America cut their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, December 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Myriad Genetics has an average rating of “Hold” and an average price target of $22.14.

Myriad Genetics Price Performance

NASDAQ:MYGN opened at $10.73 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market cap of $976.81 million, a price-to-earnings ratio of -8.25 and a beta of 1.88. Myriad Genetics has a 52 week low of $9.76 and a 52 week high of $29.30. The firm’s 50-day simple moving average is $13.28 and its 200 day simple moving average is $19.04.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period in the prior year, the business posted ($0.12) earnings per share. As a group, sell-side analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Myriad Genetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in Myriad Genetics in the third quarter valued at about $32,000. Sterling Capital Management LLC boosted its position in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after buying an additional 2,556 shares during the period. KBC Group NV boosted its position in Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after buying an additional 3,334 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after acquiring an additional 583 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Myriad Genetics by 43.8% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after acquiring an additional 1,471 shares during the period. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.