The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) is a huge mover today! About 881,836 shares traded hands. Myriad Genetics, Inc. (NASDAQ:MYGN) has declined 46.45% since March 15, 2016 and is downtrending. It has underperformed by 51.94% the S&P500.
The move comes after 8 months positive chart setup for the $1.43B company. It was reported on Oct, 18 by Barchart.com. We have $28.81 PT which if reached, will make NASDAQ:MYGN worth $629.20 million 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 $18.58M for 19.24 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. On Tuesday, September 15 the stock rating was maintained by Mizuho with “Neutral”. Leerink Swann maintained it with “Market Perform” rating and $41 target price in Wednesday, May 4 report. Deutsche Bank initiated it with “Buy” rating and $52 target price in Thursday, January 7 report. The rating was downgraded by Wells Fargo to “Market Perform” on Wednesday, August 10. As per Tuesday, July 21, the company rating was initiated by Gabelli. The stock has “Underweight” rating given by Morgan Stanley on Wednesday, August 10. Goldman Sachs upgraded Myriad Genetics, Inc. (NASDAQ:MYGN) rating on Tuesday, December 8. Goldman Sachs has “Neutral” rating and $40 price target. Wells Fargo upgraded the stock to “Market Perform” rating in Tuesday, August 25 report. The stock has “Underperform” rating given by Bank of America on Friday, July 29. The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) earned “Neutral” rating by Mizuho on Wednesday, November 4.
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 turned negative, 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.
Moreover, Rhumbline Advisers has 0.01% invested in Myriad Genetics, Inc. (NASDAQ:MYGN) for 70,590 shares. Shell Asset Management has 0.03% invested in the company for 46,104 shares. Hbk Limited Partnership reported 50,100 shares or 0.01% of all its holdings. Deutsche Commercial Bank Ag holds 350,217 shares or 0.01% of its portfolio. The Japan-based Blackrock Japan Limited has invested 0% in Myriad Genetics, Inc. (NASDAQ:MYGN). First Eagle Investment Mngmt Ltd Liability accumulated 0.03% or 368,980 shares. The United Kingdom-based Legal General Grp Inc Public Limited Com has invested 0% in Myriad Genetics, Inc. (NASDAQ:MYGN). Sei Comm, a Pennsylvania-based fund reported 99,506 shares. Stevens Cap Mgmt Ltd Partnership accumulated 0.01% or 11,529 shares. Jpmorgan Chase And owns 2,052 shares or 0% of their US portfolio. The Texas-based Maverick Capital Ltd has invested 0.04% in Myriad Genetics, Inc. (NASDAQ:MYGN). Moreover, Trexquant Investment L P has 0.21% invested in Myriad Genetics, Inc. (NASDAQ:MYGN) for 51,305 shares. Secor Advisors Limited Partnership holds 0.14% or 36,058 shares in its portfolio. Prudential has 134,083 shares for 0.01% of their US portfolio. Royal Savings Bank Of Canada, a Ontario – Canada-based fund reported 10,431 shares.
Insider Transactions: Since August 12, 2016, the stock had 2 insider purchases, and 1 sale for $380,926 net activity. McDade Ralph L had bought 1,000 shares worth $21,490. Capone Mark Christopher bought $212,400 worth of Myriad Genetics, Inc. (NASDAQ:MYGN) on Friday, August 19. 30,000 Myriad Genetics, Inc. (NASDAQ:MYGN) shares with value of $614,816 were sold by HENDERSON JOHN T.
More notable recent Myriad Genetics, Inc. (NASDAQ:MYGN) news were published by: Schaeffersresearch.com which released: “Option Bears Aren’t Buying the Myriad Genetics, Inc. (MYGN) Bounce” on October 17, 2016, also Fool.com with their article: “Why Myriad Genetics, Inc. Got Crushed Today” published on October 10, 2016, Fool.com published: “Why Bristol-Myers Squibb, Myriad Genetics, and Twilio Slumped Today” on October 10, 2016. More interesting news about Myriad Genetics, Inc. (NASDAQ:MYGN) were released by: Schaeffersresearch.com and their article: “Analyst Downgrades: Honeywell International Inc., Myriad Genetics, Inc., and …” published on October 10, 2016 as well as Nasdaq.com‘s news article titled: “Myriad Genetics Reports Encouraging myChoice HRD Data” with publication date: October 12, 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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