Myriad Genetics (NASDAQ:MYGN) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Myriad Genetics (NASDAQ:MYGN) announced its earnings results 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 company had revenue of $210.60 million during the quarter, compared to analysts’ expectations of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter last year, the firm posted ($0.12) earnings per share.

Myriad Genetics Price Performance

Shares of MYGN traded down $0.06 on Thursday, reaching $11.51. The stock had a trading volume of 260,932 shares, compared to its average volume of 1,135,910. The firm has a market capitalization of $1.05 billion, a PE ratio of -8.85 and a beta of 1.88. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $13.37 and a 200 day moving average of $19.21. Myriad Genetics has a twelve month low of $9.76 and a twelve month high of $29.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MYGN shares. Craig Hallum started coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price for the company. UBS Group reduced their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $30.00 to $21.00 in a report on Monday, December 9th. Finally, StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.