Published On: Fri, Sep 9th, 2016

Myriad Genetics Inc. (MYGN) Stock Price Up 1.4%

Myriad Genetics Inc. (NASDAQ:MYGN)’s share price rose 1.4% during mid-day trading on Friday . The stock traded as high as $20.60 and last traded at $20.56, with a volume of 911,131 shares trading hands. The stock had previously closed at $20.27.
A number of equities research analysts have weighed in on MYGN shares. Barclays PLC restated an “overweight” rating and issued a $50.00 price objective on shares of Myriad Genetics in a report on Wednesday, July 6th. Mizuho restated a “neutral” rating and issued a $34.00 price objective on shares of Myriad Genetics in a report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Wednesday, July 27th. Bank of America Corp. cut shares of Myriad Genetics from a “neutral” rating to an “underperform” rating and set a $25.00 price objective on the stock. in a report on Friday, July 29th. Finally, Piper Jaffray Cos. cut shares of Myriad Genetics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $47.00 to $22.00 in a report on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.21.
The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.974 and a beta of 0.56. The company’s 50 day moving average price is $25.03 and its 200 day moving average price is $32.36.

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Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, August 9th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $187.95 million. Myriad Genetics had a net margin of 14.98% and a return on equity of 16.06%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Equities analysts predict that Myriad Genetics Inc. will post $1.08 EPS for the current year.
In other news, insider Alexander Ford sold 18,637 shares of Myriad Genetics stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $30.87, for a total value of $575,324.19. Following the transaction, the insider now owns 40,122 shares of the company’s stock, valued at approximately $1,238,566.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Christopher Capone acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was purchased at an average cost of $21.24 per share, for a total transaction of $212,400.00. Following the transaction, the insider now owns 146,026 shares in the company, valued at $3,101,592.24. The disclosure for this purchase can be found here. 5.80% of the stock is currently owned by insiders.
Myriad Genetics Company Profile
Myriad Genetics, Inc (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics, which provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing, or assess a patient’s risk of disease progression and disease recurrence, and other, which provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients.

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