Myriad Genetics (NASDAQ:MYGN) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a sell rating in a research note published on Tuesday morning.

MYGN has been the topic of several other reports. The Goldman Sachs Group increased their price target on Myriad Genetics from $25.00 to $28.00 and gave the stock a buy rating in a report on Friday, July 21st. JPMorgan Chase & Co. reduced their price target on Myriad Genetics from $18.00 to $17.00 and set an underweight rating on the stock in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Myriad Genetics currently has a consensus rating of Hold and an average price target of $24.20.

Myriad Genetics Trading Up 7.6 %

Shares of MYGN stock opened at $15.58 on Tuesday. Myriad Genetics has a 1 year low of $13.82 and a 1 year high of $24.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $16.13 and its two-hundred day simple moving average is $19.44. The company has a market cap of $1.28 billion, a PE ratio of -5.13 and a beta of 1.78.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). Myriad Genetics had a negative return on equity of 9.43% and a negative net margin of 35.51%. The business had revenue of $183.50 million for the quarter, compared to the consensus estimate of $187.16 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Myriad Genetics will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its stake in Myriad Genetics by 96.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company’s stock worth $34,000 after purchasing an additional 1,032 shares in the last quarter. Royal Bank of Canada grew its stake in Myriad Genetics by 29.0% in the third quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock worth $44,000 after purchasing an additional 526 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Myriad Genetics by 99.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company’s stock worth $62,000 after purchasing an additional 1,326 shares in the last quarter. Natixis bought a new position in Myriad Genetics in the fourth quarter worth approximately $44,000. Finally, Point72 Hong Kong Ltd grew its stake in Myriad Genetics by 722.8% in the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock worth $58,000 after purchasing an additional 2,826 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

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 mental health applications. 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, 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.