The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) is a huge mover today! About 2.21M shares traded hands or 32.34% up from the average. Myriad Genetics, Inc. (NASDAQ:MYGN) has declined 44.04% since March 7, 2016 and is downtrending. It has underperformed by 51.63% the S&P500.
The move comes after 8 months negative chart setup for the $1.30 billion company. It was reported on Oct, 10 by Barchart.com. We have $17.23 PT which if reached, will make NASDAQ:MYGN worth $104.00 million less.
Analysts await Myriad Genetics, Inc. (NASDAQ:MYGN) to report earnings on November, 1. They expect $0.26 earnings per share, down 36.59% or $0.15 from last year’s $0.41 per share. MYGN’s profit will be $18.05 million for 18.01 P/E if the $0.26 EPS becomes a reality. After $0.36 actual earnings per share reported by Myriad Genetics, Inc. for the previous quarter, Wall Street now forecasts -27.78% negative EPS growth.
Myriad Genetics, Inc. (NASDAQ:MYGN) Ratings Coverage
Out of 16 analysts covering Myriad Genetics (NASDAQ:MYGN), 5 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 31% are positive. Myriad Genetics has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Market Perform” rating given by Leerink Swann on Wednesday, May 4. As per Tuesday, July 21, the company rating was initiated by Gabelli. As per Wednesday, August 10, the company rating was downgraded by Wells Fargo. The firm has “Underweight” rating by Morgan Stanley given on Wednesday, August 10. The firm has “Market Outperform” rating given on Wednesday, May 4 by Avondale. UBS maintained the stock with “Sell” rating in Wednesday, August 10 report. The firm earned “Neutral” rating on Wednesday, November 4 by Mizuho. Goldman Sachs upgraded the shares of MYGN in a report on Tuesday, December 8 to “Neutral” rating. Barclays Capital downgraded it to “Equal-Weight” rating and $24 target price in Wednesday, August 10 report. The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) has “Overweight” rating given on Tuesday, September 15 by Piper Jaffray.
According to Zacks Investment Research, “Myriad Genetics, Inc. uses gene-based medicine to develop therapeutic and molecular diagnostic products. They employ a variety of proprietary proteomic technologies to discover disease genes and to understand the role these genes and their related proteins play in the onset and progression of disease. They have integrated these technologies using bioinformatics and robotics systems to conduct their research efforts on a high-throughput basis. This has enabled them to identify numerous proteins as targets for new drugs and molecular diagnostic tests.”
Insitutional Activity: The institutional sentiment decreased to 1.24 in 2016 Q2. Its down 0.09, from 1.33 in 2016Q1. The ratio dropped, as 22 funds sold all Myriad Genetics, Inc. shares owned while 77 reduced positions. 43 funds bought stakes while 80 increased positions. They now own 77.80 million shares or 7.83% less from 84.42 million shares in 2016Q1.
Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Myriad Genetics, Inc. (NASDAQ:MYGN) for 19,992 shares. The Minnesota-based Walleye Trading Ltd Liability Corp has invested 0% in Myriad Genetics, Inc. (NASDAQ:MYGN). Cim, a New York-based fund reported 11,405 shares. Gotham Asset Mgmt last reported 0.13% of its portfolio in the stock. Federated Investors Pa has 0% invested in the company for 3,805 shares. Credit Suisse Ag holds 0.01% or 375,868 shares in its portfolio. Tcw Inc reported 20,700 shares or 0% of all its holdings. Moreover, Teachers Advsr Inc has 0.01% invested in Myriad Genetics, Inc. (NASDAQ:MYGN) for 110,586 shares. Wells Fargo & Mn last reported 0% of its portfolio in the stock. Disciplined Growth Mn reported 1.36M shares or 1.04% of all its holdings. Cortina Asset Ltd Liability Corp holds 0.25% or 182,606 shares in its portfolio. Gam Ag holds 0.01% or 15,000 shares in its portfolio. Moreover, Princeton Alpha Management L P has 0.11% invested in Myriad Genetics, Inc. (NASDAQ:MYGN) for 20,269 shares. Allianz Asset Mgmt Ag has 0% invested in the company for 15,767 shares. Frontier Cap Mngmt Ltd Liability Corp accumulated 1.83 million shares or 0.46% of the stock.
Insider Transactions: Since August 12, 2016, the stock had 2 buys, and 1 insider sale for $380,926 net activity. McDade Ralph L also bought $21,490 worth of Myriad Genetics, Inc. (NASDAQ:MYGN) shares. HENDERSON JOHN T also sold $614,816 worth of Myriad Genetics, Inc. (NASDAQ:MYGN) shares. Capone Mark Christopher bought $212,400 worth of stock or 10,000 shares.
Another recent and important Myriad Genetics, Inc. (NASDAQ:MYGN) news was published by Streetinsider.com which published an article titled: “Myriad Genetics (MYGN) Announces Strong Data from myChoice HRD Test in Ovarian …” on October 10, 2016.
MYGN Company Profile
Myriad Genetics, Inc. (Myriad), incorporated on November 6, 1992, is a molecular diagnostic company. The Firm is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Firm operates through two divisions: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence. The other segment provides testing services and products to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients, and also includes corporate services, such as finance, human resources, legal and information technology.
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