Myriad Genetics (MYGN) Set to Post Quarterly Earnings on Thursday

Myriad Genetics (NASDAQ:MYGN) is set to release its earnings data after the market closes on Thursday, November 7th. Analysts expect Myriad Genetics to post earnings of $0.02 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. Myriad Genetics’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) earnings per share. On average, analysts expect Myriad Genetics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Myriad Genetics Trading Down 1.0 %

Shares of MYGN stock traded down $0.18 on Tuesday, reaching $17.65. The company had a trading volume of 209,924 shares, compared to its average volume of 721,367. The company has a 50-day moving average of $25.37 and a 200-day moving average of $24.80. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.60 billion, a PE ratio of -9.66 and a beta of 1.93. Myriad Genetics has a 12 month low of $15.99 and a 12 month high of $29.30.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler lifted their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Company started coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Morgan Stanley started coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price objective on the stock. Finally, Scotiabank upped their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.91.

Insider Buying and Selling

In other news, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now owns 42,533 shares in the company, valued at approximately $1,188,797.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,012 shares of company stock worth $1,900,485. Corporate insiders own 2.10% of the company’s stock.

About Myriad Genetics

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.