Myriad Genetics (NASDAQ:MYGN) Announces Quarterly Earnings Results

Myriad Genetics (NASDAQ:MYGN) released its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12), Zacks reports. The business had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter in the prior year, the company earned ($0.12) EPS.

Myriad Genetics Trading Down 0.5 %

NASDAQ:MYGN traded down $0.06 during trading hours on Thursday, hitting $11.51. 260,932 shares of the company were exchanged, compared to its average volume of 1,135,910. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -8.85 and a beta of 1.88. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a one year low of $9.76 and a one year high of $29.30. The company has a fifty day simple moving average of $13.37 and a 200 day simple moving average of $19.21.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley dropped their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Craig Hallum initiated coverage on Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 price objective on the stock. Finally, UBS Group reduced their target price on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.14.

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.