Zacks reiterated their outperform rating on shares of Myriad Genetics (NASDAQ: MYGN) in a research report sent to investors on Tuesday morning. The firm currently has a $30.00 price target on the stock.
Zacks’ analyst wrote, “Myriad reported an encouraging second-quarter fiscal 2013, with EPS and revenues sailing past the Zacks Consensus Estimate. On the bright side, BART test gained traction and Myriad progressed with other major pipeline candidates. The Sanofi deal also yielded positive results. Besides, the new share repurchase program should boost shareholder value over the long haul. Moreover, the European expansion plans remain on track. While margin pressure remains a cause of concern, the increase in bottom end of Myriad’s guidance came as a major boost. We believe that the company will be able to maintain its solid growth momentum going forward. Based on these positive driving events, we reaffirm our Outperform recommendation on the stock. “
Myriad Genetics traded down 0.48% on Tuesday, hitting $24.90. Myriad Genetics has a 1-year low of $22.02 and a 1-year high of $31.80. The stock’s 50-day moving average is currently $25.94. The company has a market cap of $2.006 billion and a price-to-earnings ratio of 17.15.
Several other analysts have also recently commented on the stock. Analysts at Jefferies & Co. cut their price target on shares of Myriad Genetics from $33.00 to $31.00 in a research note to investors on Monday. They now have a buy rating on the stock. Separately, analysts at Oppenheimer cut their price target on shares of Myriad Genetics from $31.00 to $29.00 in a research note to investors on Monday. They now have a market perform rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Myriad Genetics to $28.00 in a research note to investors on Monday. They now have a neutral rating on the stock.
Nine analysts have rated the stock with a buy rating, eight have issued a hold rating, and one has issued a sell rating to the company. The stock has a consensus rating of overweight and an average target price of $30.00.
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