Needham analyst Stephen Unger assigned a Hold rating to Myriad Genetics (MYGN) today. The company’s shares closed last Tuesday at $14.82, close to its 52-week low of $9.24.
According to TipRanks.com, Unger is a 5-star analyst with an average return of 12.8% and a 74.1% success rate. Unger covers the Healthcare sector, focusing on stocks such as Thermo Fisher, PerkinElmer, and NeoGenomics.
The word on The Street in general, suggests a Hold analyst consensus rating for Myriad Genetics with a $19.17 average price target.
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Based on Myriad Genetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $195 million and GAAP net loss of $8.3 million. In comparison, last year the company earned revenue of $217 million and had a net profit of $2.6 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MYGN in relation to earlier this year.
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Myriad Genetics, Inc. engages in the discovery, development, and marketing of transformative molecular diagnostic test. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of testing that is designed to asses an individual’s risk of developing a disease later in life. The Other segment offers products and services 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. The company was founded by Walter A. Gilbert, Mark H. Skolnick, and Peter D. Meldrum in May 1991 and is headquartered in Salt Lake City, UT.
