StockNews.com Downgrades Myriad Genetics (NASDAQ:MYGN) to Hold

Myriad Genetics (NASDAQ:MYGN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other research analysts have also commented on MYGN. Raymond James reissued an “outperform” rating and set a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. UBS Group cut their price objective on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Morgan Stanley dropped their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Craig Hallum started coverage on Myriad Genetics in a research report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 target price for the company. Finally, Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.89.

Myriad Genetics Stock Up 3.8 %

MYGN stock opened at $10.07 on Thursday. Myriad Genetics has a twelve month low of $9.36 and a twelve month high of $29.30. 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 $919.48 million, a PE ratio of -7.75 and a beta of 1.79. The stock has a 50-day simple moving average of $12.59 and a two-hundred day simple moving average of $17.81.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same period in the previous year, the firm posted ($0.12) EPS. On average, equities analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Myriad Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Myriad Genetics by 43.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,229 shares of the company’s stock valued at $3,910,000 after acquiring an additional 86,973 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Myriad Genetics in the fourth quarter worth $1,635,000. Squarepoint Ops LLC grew its stake in Myriad Genetics by 27.0% in the fourth quarter. Squarepoint Ops LLC now owns 138,869 shares of the company’s stock worth $1,904,000 after purchasing an additional 29,524 shares during the period. Twinbeech Capital LP purchased a new stake in Myriad Genetics in the fourth quarter worth $562,000. Finally, Rafferty Asset Management LLC grew its stake in Myriad Genetics by 50.4% in the fourth quarter. Rafferty Asset Management LLC now owns 166,138 shares of the company’s stock worth $2,278,000 after purchasing an additional 55,690 shares during the period. Institutional investors own 99.02% of the company’s stock.

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.