Myriad Genetics (NASDAQ:MYGN) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Myriad Genetics (NASDAQ:MYGN – Get Rating) from a hold rating to a buy rating in a report published on Sunday.

Separately, The Goldman Sachs Group cut their price objective on shares of Myriad Genetics from $26.00 to $23.00 and set a sell rating on the stock in a research report on Tuesday, April 19th.

MYGN opened at $21.35 on Friday. The company has a fifty day moving average price of $23.10 and a two-hundred day moving average price of $25.22. Myriad Genetics has a 52 week low of $18.98 and a 52 week high of $36.95. The firm has a market capitalization of $1.72 billion, a PE ratio of -177.92 and a beta of 1.57.

Myriad Genetics (NASDAQ:MYGN – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $156.09 million. Myriad Genetics had a negative net margin of 1.20% and a negative return on equity of 2.75%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. Equities analysts forecast that Myriad Genetics will post -0.32 earnings per share for the current fiscal year.

In other Myriad Genetics news, insider Jayne B. Hart sold 10,500 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $25.00, for a total value of $262,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of MYGN. GHP Investment Advisors Inc. bought a new position in shares of Myriad Genetics in the first quarter valued at $27,000. Exchange Traded Concepts LLC purchased a new stake in Myriad Genetics during the first quarter worth about $29,000. Rockefeller Capital Management L.P. increased its stake in shares of Myriad Genetics by 209.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,238 shares of the company’s stock worth $39,000 after purchasing an additional 838 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Myriad Genetics in the fourth quarter worth about $48,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Myriad Genetics during the fourth quarter valued at approximately $81,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

Myriad Genetics Company Profile (Get Rating)

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It 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, or 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.

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