Stephens Increases Myriad Genetics (MYGN) Price Target to $52.00

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Myriad Genetics (NASDAQ:MYGN) had its price target hoisted by stock analysts at Stephens from $45.00 to $52.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Stephens’ target price indicates a potential upside of 21.38% from the stock’s current price.

Several other brokerages also recently weighed in on MYGN. Morgan Stanley increased their price target on Myriad Genetics from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 9th. BTIG Research set a $42.00 price target on Myriad Genetics and gave the stock a “buy” rating in a report on Tuesday, May 8th. BidaskClub raised Myriad Genetics from a “buy” rating to a “strong-buy” rating in a report on Friday, May 11th. Zacks Investment Research downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 18th. Finally, ValuEngine raised Myriad Genetics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $36.64.

MYGN stock opened at $42.84 on Wednesday. The company has a market capitalization of $2.95 billion, a PE ratio of 40.80, a PEG ratio of 2.83 and a beta of 0.49. Myriad Genetics has a twelve month low of $27.23 and a twelve month high of $44.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.52 and a quick ratio of 3.16.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. The business had revenue of $200.90 million during the quarter, compared to the consensus estimate of $195.93 million. Myriad Genetics had a return on equity of 9.52% and a net margin of 17.67%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. sell-side analysts predict that Myriad Genetics will post 1.21 EPS for the current year.

In other news, insider Mark Christopher Capone sold 90,000 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $38.00, for a total value of $3,420,000.00. Following the completion of the transaction, the insider now owns 422,175 shares in the company, valued at $16,042,650. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Richard M. Marsh sold 33,139 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $38.00, for a total value of $1,259,282.00. Following the completion of the transaction, the vice president now owns 156,908 shares of the company’s stock, valued at approximately $5,962,504. The disclosure for this sale can be found here. In the last 90 days, insiders sold 496,811 shares of company stock valued at $19,897,716. Company insiders own 6.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Robecosam AG increased its position in Myriad Genetics by 39.8% during the 2nd quarter. Robecosam AG now owns 4,193 shares of the company’s stock worth $156,000 after purchasing an additional 1,193 shares in the last quarter. Piedmont Investment Advisors LLC increased its position in Myriad Genetics by 1.9% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 70,179 shares of the company’s stock worth $2,623,000 after purchasing an additional 1,285 shares in the last quarter. Vident Investment Advisory LLC increased its position in Myriad Genetics by 1.5% during the 2nd quarter. Vident Investment Advisory LLC now owns 86,231 shares of the company’s stock worth $3,222,000 after purchasing an additional 1,293 shares in the last quarter. Amalgamated Bank increased its position in Myriad Genetics by 14.0% during the 2nd quarter. Amalgamated Bank now owns 10,611 shares of the company’s stock worth $397,000 after purchasing an additional 1,302 shares in the last quarter. Finally, CWM LLC increased its position in Myriad Genetics by 0.6% during the 2nd quarter. CWM LLC now owns 282,289 shares of the company’s stock worth $10,549,000 after purchasing an additional 1,650 shares in the last quarter.

About Myriad Genetics

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; BART, a DNA sequencing test for hereditary 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; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

See Also: Leveraged Buyout (LBO)

The Fly

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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