The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) is a huge mover today! About 1.69 million shares traded hands. Myriad Genetics, Inc. (NASDAQ:MYGN) has declined 49.61% since March 8, 2016 and is downtrending. It has underperformed by 58.93% the S&P500.
The move comes after 8 months positive chart setup for the $1.16 billion company. It was reported on Oct, 11 by Barchart.com. We have $24.32 PT which if reached, will make NASDAQ:MYGN worth $324.80M more.
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 $15.87M for 18.27 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 17 analysts covering Myriad Genetics (NASDAQ:MYGN), 5 rate it a “Buy”, 4 “Sell”, while 8 “Hold”. This means 29% are positive. Myriad Genetics has been the topic of 29 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Jefferies on Thursday, August 11 with “Hold”. As per Wednesday, August 10, the company rating was downgraded by Wells Fargo. The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) earned “Underperform” rating by Bank of America on Friday, July 29. Avondale maintained the shares of MYGN in a report on Wednesday, May 4 with “Market Outperform” rating. Gabelli initiated Myriad Genetics, Inc. (NASDAQ:MYGN) rating on Tuesday, July 21. Gabelli has “Buy” rating and $42 price target. On Tuesday, September 15 the stock rating was maintained by Mizuho with “Neutral”. The firm has “Hold” rating given on Wednesday, August 10 by Gabelli. The rating was downgraded by Barclays Capital on Wednesday, August 10 to “Equal-Weight”. The stock has “Underweight” rating given by Morgan Stanley on Wednesday, August 10. Goldman Sachs upgraded the stock to “Neutral” rating in Tuesday, December 8 report.
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 Q2 2016. Its down 0.09, from 1.33 in 2016Q1. The ratio dived, 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.
The Massachusetts-based Barry Inv Advsr Lc has invested 0.1% in Myriad Genetics, Inc. (NASDAQ:MYGN). Eqis Capital Mngmt holds 15,464 shares or 0.03% of its portfolio. Gam Hldgs Ag has 0.01% invested in the company for 15,000 shares. Sls Mngmt Limited Liability Corp holds 109,300 shares or 7.34% of its portfolio. Baillie Gifford And, a United Kingdom-based fund reported 11.32 million shares. State Street Corp owns 2.16M shares or 0.01% of their US portfolio. Ghp Invest holds 0.14% of its portfolio in Myriad Genetics, Inc. (NASDAQ:MYGN) for 20,874 shares. Genesee Valley Tru last reported 17,948 shares in the company. Deutsche Retail Bank Ag owns 350,217 shares or 0.01% of their US portfolio. Iridian Asset Mngmt Llc Ct accumulated 0.91% or 3.22M shares. Dupont accumulated 10,021 shares or 0.01% of the stock. Conestoga Advsr Llc, a Pennsylvania-based fund reported 6,939 shares. Price T Rowe Associates Inc Md holds 18,380 shares or 0% of its portfolio. Kcg Holdg last reported 0.02% of its portfolio in the stock. Ingalls And Snyder Ltd Com has 0.25% invested in the company for 137,012 shares.
Insider Transactions: Since August 12, 2016, the stock had 2 insider purchases, and 1 sale for $380,926 net activity. 30,000 shares were sold by HENDERSON JOHN T, worth $614,816. Capone Mark Christopher had bought 10,000 shares worth $212,400. Another trade for 1,000 shares valued at $21,490 was made by McDade Ralph L on Friday, August 12.
More recent Myriad Genetics, Inc. (NASDAQ:MYGN) news were published by: Fool.com which released: “Why Myriad Genetics, Inc. Got Crushed Today” on October 10, 2016. Also Fool.com published the news titled: “Why Bristol-Myers Squibb, Myriad Genetics, and Twilio Slumped Today” on October 10, 2016. Fool.com‘s news article titled: “Myriad Genetics Shouldn’t Overlook This Tiny Competitor” with publication date: September 17, 2016 was also an interesting one.
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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