SVB Leerink upgraded shares of Myriad Genetics (NASDAQ:MYGN – Free Report) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. SVB Leerink currently has $35.00 price objective on the stock, up from their prior price objective of $25.00.
Separately, The Goldman Sachs Group upped their price objective on shares of Myriad Genetics from $28.00 to $31.00 and gave the stock a buy rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of Hold and an average target price of $24.86.
Read Our Latest Report on Myriad Genetics
Myriad Genetics Trading Up 3.7 %
Myriad Genetics (NASDAQ:MYGN – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $202.20 million during the quarter, compared to analyst estimates of $193.51 million. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. Equities research analysts forecast that Myriad Genetics will post -0.36 EPS for the current fiscal year.
Institutional Trading of Myriad Genetics
Several institutional investors and hedge funds have recently bought and sold shares of MYGN. China Universal Asset Management Co. Ltd. increased its holdings in shares of Myriad Genetics by 96.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company’s stock valued at $34,000 after purchasing an additional 1,032 shares during the period. Blue Trust Inc. increased its holdings in shares of Myriad Genetics by 21.4% in the 4th quarter. Blue Trust Inc. now owns 6,729 shares of the company’s stock valued at $129,000 after purchasing an additional 1,186 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Myriad Genetics by 90.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock valued at $188,000 after purchasing an additional 4,193 shares during the period. Clarus Wealth Advisors acquired a new position in shares of Myriad Genetics in the 4th quarter valued at about $204,000. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Myriad Genetics by 8.1% in the 4th quarter. Mutual of America Capital Management LLC now owns 15,519 shares of the company’s stock valued at $297,000 after purchasing an additional 1,167 shares during the period. Institutional investors and hedge funds 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.
Read More
- Five stocks we like better than Myriad Genetics
- 3 REITs to Buy and Hold for the Long Term
- Roblox: The Bottom Just Fell Out of the Metaverse
- How to Use the MarketBeat Dividend Calculator
- Airbnb Stock Plummets After Earnings, But is It a Buy?
- 5 discounted opportunities for dividend growth investors
- Uber’s Earnings Drop Is Investors Opportunity
Receive News & Ratings for Myriad Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics and related companies with MarketBeat.com's FREE daily email newsletter.