Myriad Genetics (NASDAQ:MYGN – Get Free Report) released its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09, FiscalAI reports. Myriad Genetics had a negative net margin of 13.96% and a negative return on equity of 16.09%. The firm had revenue of $202.70 million during the quarter, compared to the consensus estimate of $191.33 million.
Myriad Genetics Stock Performance
Shares of Myriad Genetics stock traded down $0.02 during trading hours on Wednesday, reaching $6.02. The company had a trading volume of 2,067,590 shares, compared to its average volume of 1,891,089. The firm has a market cap of $575.81 million, a PE ratio of -5.06 and a beta of 1.62. Myriad Genetics has a one year low of $2.74 and a one year high of $8.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.21 and a quick ratio of 1.98. The business has a fifty day simple moving average of $4.33 and a 200 day simple moving average of $4.62.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on MYGN. Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, October 15th. UBS Group assumed coverage on Myriad Genetics in a research report on Wednesday, September 9th. They set a “neutral” rating and a $3.60 price target on the stock. Stephens cut their price target on Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Weiss Ratings lowered Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 27th. Finally, Piper Sandler upgraded shares of Myriad Genetics from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Tuesday, October 20th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and an average price target of $4.77.
View Our Latest Stock Report on MYGN
Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests and related services to help healthcare providers assess disease risk, guide treatment decisions and support patient care. The company’s testing portfolio spans hereditary cancer, precision oncology, women’s health, mental health and other clinical applications.
Its products include hereditary cancer risk tests such as MyRisk and BRACAnalysis, which evaluate inherited genetic variants associated with cancers including breast and ovarian cancer.
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