Myriad Genetics (NASDAQ:MYGN) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Myriad Genetics (NASDAQ:MYGN) posted its earnings results on Monday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12), Zacks reports. The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the previous year, the firm earned ($0.12) earnings per share.

Myriad Genetics Trading Down 15.9 %

Shares of MYGN traded down $2.19 during mid-day trading on Tuesday, hitting $11.59. 405,660 shares of the company’s stock traded hands, compared to its average volume of 1,079,835. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.06 billion, a P/E ratio of -8.95 and a beta of 1.88. The business’s 50-day moving average price is $13.45 and its 200-day moving average price is $19.38. Myriad Genetics has a 1 year low of $9.76 and a 1 year high of $29.30.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MYGN shares. The Goldman Sachs Group lowered their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. UBS Group initiated coverage on Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 target price for the company. Morgan Stanley decreased their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Myriad Genetics currently has an average rating of “Hold” and an average target price of $22.54.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also 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, and 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.