Myriad Genetics (NASDAQ:MYGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $34.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 12.10% from the company’s current price.

According to Zacks, “Over the past year, Myriad Genetics has outperformed its industry. The company observed strong growth in GeneSight, EndoPredict and Prolaris testing revenues. Further, management believes that Hereditary cancer pricing has remained stable on a sequential basis for four consecutive quarters. We are upbeat about Myriad Genetics’ expectation to witness a stable pricing trend in the same to continue throughout fiscal 2019. Moreover, on solid performance by new products, Counsyl buyout synergy, success of the Elevate 2020 program along with augmenting reimbursements for the tests, the company seems to be well-positioned to deliver strong financial results in fiscal 2019.  However, the decline in Hereditary cancer testing revenues raises concern. Currency fluctuations and stiff competition are other concerning factors.”

Other analysts have also issued research reports about the stock. BidaskClub raised shares of Myriad Genetics from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Deutsche Bank raised their price objective on shares of Myriad Genetics from $37.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, November 5th. Piper Jaffray Companies upgraded shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $53.00 in a research note on Wednesday, October 10th. TheStreet lowered shares of Myriad Genetics from a “b” rating to a “c” rating in a research note on Thursday, November 8th. Finally, Cowen upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $39.70.

Shares of NASDAQ MYGN traded down $0.34 during trading on Friday, reaching $30.33. The company had a trading volume of 7,687 shares, compared to its average volume of 985,673. Myriad Genetics has a twelve month low of $26.80 and a twelve month high of $50.44. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.97 and a beta of 0.58. The company has a quick ratio of 2.83, a current ratio of 3.17 and a debt-to-equity ratio of 0.23.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.13. Myriad Genetics had a net margin of 7.07% and a return on equity of 10.07%. The firm had revenue of $202.30 million during the quarter, compared to the consensus estimate of $203.20 million. During the same quarter last year, the company earned $0.26 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that Myriad Genetics will post 1.5 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Myriad Genetics by 3.5% during the 3rd quarter. BlackRock Inc. now owns 11,466,610 shares of the company’s stock valued at $527,464,000 after buying an additional 383,089 shares during the period. Baillie Gifford & Co. boosted its position in Myriad Genetics by 1.0% during the 3rd quarter. Baillie Gifford & Co. now owns 9,547,193 shares of the company’s stock valued at $439,171,000 after buying an additional 92,008 shares during the period. Vanguard Group Inc. boosted its position in Myriad Genetics by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,656,933 shares of the company’s stock valued at $398,219,000 after buying an additional 365,697 shares during the period. Vanguard Group Inc boosted its position in Myriad Genetics by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 8,656,933 shares of the company’s stock valued at $398,219,000 after buying an additional 365,697 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Myriad Genetics by 8.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,575,754 shares of the company’s stock worth $118,485,000 after purchasing an additional 198,819 shares during the period. 99.06% of the stock is currently owned by institutional investors.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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