Piper Jaffray Companies upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a neutral rating to an overweight rating in a research report released on Wednesday morning, Marketbeat reports. Piper Jaffray Companies currently has $53.00 price objective on the stock, up from their previous price objective of $38.00. Piper Jaffray Companies also issued estimates for Myriad Genetics’ Q4 2019 earnings at $0.46 EPS.
MYGN has been the subject of several other research reports. Morgan Stanley raised their price objective on shares of Myriad Genetics from $47.00 to $49.00 and gave the company an overweight rating in a research note on Wednesday, August 22nd. Barclays lowered their price objective on shares of Myriad Genetics from $30.00 to $25.00 and set an underweight rating for the company in a research note on Tuesday, September 11th. BidaskClub downgraded shares of Myriad Genetics from a strong-buy rating to a buy rating in a research note on Tuesday, August 21st. Zacks Investment Research downgraded shares of Myriad Genetics from a buy rating to a sell rating in a research note on Monday, August 27th. Finally, Stephens lifted their price target on shares of Myriad Genetics from $45.00 to $52.00 and gave the stock an overweight rating in a research note on Wednesday, August 22nd. Four analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Myriad Genetics has a consensus rating of Hold and a consensus price target of $41.10.
Shares of NASDAQ MYGN traded down $0.19 during midday trading on Wednesday, hitting $43.50. The company’s stock had a trading volume of 969,537 shares, compared to its average volume of 733,741. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.86 and a current ratio of 3.19. Myriad Genetics has a 1 year low of $27.23 and a 1 year high of $50.44. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 3.12 and a beta of 0.51.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. Myriad Genetics had a net margin of 17.69% and a return on equity of 9.78%. The business had revenue of $200.90 million during the quarter, compared to analyst estimates of $195.93 million. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts predict that Myriad Genetics will post 1.44 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of MYGN. JPMorgan Chase & Co. lifted its stake in Myriad Genetics by 37.8% in the first quarter. JPMorgan Chase & Co. now owns 385,720 shares of the company’s stock worth $11,398,000 after acquiring an additional 105,863 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Myriad Genetics by 2.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 92,760 shares of the company’s stock worth $2,740,000 after buying an additional 1,858 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Myriad Genetics during the 1st quarter worth approximately $176,000. Principal Financial Group Inc. lifted its position in shares of Myriad Genetics by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 583,702 shares of the company’s stock worth $17,249,000 after buying an additional 21,001 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Myriad Genetics by 25.8% during the 1st quarter. Allianz Asset Management GmbH now owns 610,190 shares of the company’s stock worth $18,031,000 after buying an additional 125,172 shares during the last quarter.
Myriad Genetics Company Profile
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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