Myriad Genetics (NASDAQ: MYGN)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday, Analyst Ratings.Net reports. They currently have a $33.00 price target on the stock. Zacks‘ price target would indicate a potential upside of 3.81% from the company’s current price.
Zacks‘ analyst wrote, “Myriad reported an encouraging third-quarter fiscal 2013, with EPS of $0.46 beating the Zacks Consensus Estimate by 17.9% and year-ago EPS by 34%. Revenue surged 21% to $156.5 million, sailing past the Zacks Consensus Estimate of $149 million. We look forward to Myriad’s effort to revamp its portfolio with the innovative myRisk test. The HRD test represents another future growth driver. The company should gain from expansion of indications, pipeline expansion and stronger international presence. However, the potential market entry of other players following Supreme Court ruling and subsequent price war is a cause of concern. Both might adversely affect Myriad’s future results. Uncertainty emanating from the conversion to myRisk is another headwind. Despite healthy growth record, medium-term outlook looks bleak. Thus, we tread with caution and remain Neutral on the stock. “
MYGN has been the subject of a number of other recent research reports. Analysts at Ned Davis Research upgraded shares of Myriad Genetics from a “neutral” rating to a “buy” rating in a research note to investors on Monday, July 1st. Separately, analysts at Oppenheimer initiated coverage on shares of Myriad Genetics in a research note to investors on Wednesday, June 26th. They set a “market perform” rating and a $29.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Myriad Genetics to $31.00 in a research note to investors on Tuesday, June 18th. They now have an “outperform” rating on the stock.
One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $34.43.
Shares of Myriad Genetics (NASDAQ: MYGN) opened at 31.79 on Friday. Myriad Genetics has a one year low of $23.07 and a one year high of $38.27. The stock’s 50-day moving average is currently $29.65. The company has a market cap of $2.532 billion and a P/E ratio of 20.27.
Myriad Genetics (NASDAQ: MYGN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.07. The company had revenue of $156.40 million for the quarter, compared to the consensus estimate of $148.25 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Myriad Genetics has set its FY13 guidance at $1.65-1.67 EPS. Analysts expect that Myriad Genetics will post $1.67 EPS for the current fiscal year.
Myriad Genetics, Inc (NASDAQ: MYGN) is a molecular diagnostic company.
To view Zacks’ full report, visit www.zacks.com