Myriad Genetics (NASDAQ:MYGN) Stock Rating Upgraded by Zacks Research

Myriad Genetics (NASDAQ:MYGN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

A number of other analysts have also recently weighed in on MYGN. Weiss Ratings raised shares of Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Craig Hallum boosted their target price on shares of Myriad Genetics from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Wells Fargo & Company decreased their target price on Myriad Genetics from $5.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, August 3rd. Wall Street Zen cut shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Stephens cut their target price on shares of Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics has a consensus rating of “Reduce” and a consensus target price of $4.02.

Myriad Genetics Trading Down 8.5%

MYGN stock traded down $0.37 during trading on Thursday, reaching $3.98. 1,425,471 shares of the stock were exchanged, compared to its average volume of 1,842,950. The company has a current ratio of 2.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $380.69 million, a price-to-earnings ratio of -3.34 and a beta of 1.64. The business has a 50 day moving average price of $3.66 and a 200-day moving average price of $4.36. Myriad Genetics has a 1 year low of $2.74 and a 1 year high of $8.50.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.19). Myriad Genetics had a negative net margin of 13.96% and a negative return on equity of 16.09%. The business had revenue of $190.70 million during the quarter, compared to analyst estimates of $206.03 million. During the same period last year, the company earned $0.05 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts predict that Myriad Genetics will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in Myriad Genetics during the second quarter valued at approximately $25,000. Integrated Wealth Concepts LLC acquired a new position in Myriad Genetics in the second quarter worth approximately $54,000. Hsbc Holdings PLC bought a new position in shares of Myriad Genetics in the second quarter valued at $61,000. E Fund Management Co. Ltd. bought a new position in shares of Myriad Genetics in the second quarter valued at $67,000. Finally, Williams & Novak Wealth Management LLC bought a new position in shares of Myriad Genetics in the third quarter valued at $67,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Company Profile

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests designed to help healthcare professionals assess disease risk, guide treatment decisions and support patient care. The company serves physicians, hospitals, health systems, biopharmaceutical companies and patients, with a focus on areas including oncology, women’s health and mental health.

Its portfolio includes hereditary cancer testing, such as the MyRisk Hereditary Cancer test; tumor profiling and companion diagnostic services used to help inform cancer treatment; prenatal and carrier screening tests, including Prequel and Foresight; and pharmacogenomic testing, including GeneSight, which is intended to help clinicians evaluate how a patient may respond to certain psychiatric medications.