Myriad Genetics (NASDAQ:MYGN) Rating Lowered to D+ at TheStreet

Myriad Genetics (NASDAQ:MYGNGet Rating) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued on Friday, TheStreetRatingsTable reports.

Several other equities research analysts have also recently issued reports on MYGN. The Goldman Sachs Group lowered their price objective on shares of Myriad Genetics from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Tuesday, April 19th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Myriad Genetics has a consensus rating of “Hold” and a consensus price target of $29.00.

MYGN stock opened at $18.72 on Friday. Myriad Genetics has a 12 month low of $18.41 and a 12 month high of $36.95. The company has a 50-day moving average price of $22.21 and a 200 day moving average price of $24.58. The stock has a market cap of $1.50 billion, a PE ratio of -156.00 and a beta of 1.57.

Myriad Genetics (NASDAQ:MYGNGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $164.90 million during 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 firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) EPS. On average, equities research analysts predict that Myriad Genetics will post -0.32 earnings per share for the current fiscal year.

In related news, Director Daniel K. Spiegelman sold 6,424 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $19.25, for a total transaction of $123,662.00. Following the completion of the transaction, the director now owns 33,980 shares in the company, valued at approximately $654,115. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Walleye Capital LLC acquired a new position in Myriad Genetics during the 1st quarter valued at approximately $399,000. Polar Asset Management Partners Inc. acquired a new position in Myriad Genetics during the 1st quarter valued at approximately $2,949,000. Dynamic Technology Lab Private Ltd acquired a new position in Myriad Genetics during the 1st quarter valued at approximately $303,000. Glenview Capital Management LLC increased its stake in Myriad Genetics by 3.4% during the 1st quarter. Glenview Capital Management LLC now owns 1,737,009 shares of the company’s stock valued at $43,773,000 after purchasing an additional 57,262 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Myriad Genetics by 103.2% in the 1st quarter. Captrust Financial Advisors now owns 5,083 shares of the company’s stock valued at $128,000 after acquiring an additional 2,581 shares during the last quarter. 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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