Key Takeaways From Myriad Genetics Analyst Ratings
During the last three months, 4 analysts shared their evaluations of Myriad Genetics (NASDAQ:MYGN), revealing diverse outlooks from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 0 | 2 | 1 | 1 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 1 | 0 |
| 2M Ago | 0 | 1 | 1 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $28.0, a high estimate of $35.00, and a low estimate of $20.00. Observing a 15.08% increase, the current average has risen from the previous average price target of $24.33.
Understanding Analyst Ratings: A Comprehensive Breakdown
A comprehensive examination of how financial experts perceive Myriad Genetics is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Sung Ji Nam | Scotiabank | Announces | Sector Outperform | $29.00 | - |
| Tycho Peterson | Jefferies | Lowers | Underperform | $20.00 | $25.00 |
| John Peterson | Piper Sandler | Raises | Neutral | $28.00 | $23.00 |
| Puneet Souda | Leerink Partners | Raises | Outperform | $35.00 | $25.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Myriad Genetics. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Myriad Genetics compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for Myriad Genetics's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
For valuable insights into Myriad Genetics's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Myriad Genetics analyst ratings.
Discovering Myriad Genetics: A Closer Look
Myriad Genetics is a molecular diagnostics company that provides testing services designed to assess an individual's risk of developing a disease. The firm produces MyRisk, a 48-gene panel with the capability to identify the elevated risk of developing 11 types of cancer. Other diagnostic products include BRACAnalysis CDx, the FDA-approved companion diagnostic for PARP inhibitors; GeneSight, which helps improve responses to psychotropic drugs for patients suffering from depression; and Prequel, a noninvasive prenatal test. Precise Oncology Solutions, launched in 2022, combines Precise Tumor with companion diagnostic and prognostic tests such as MyChoice CDx, Prolaris, and EndoPredict. The firm offers biomarker discovery and companion diagnostic services to pharma and biotech companies.
Understanding the Numbers: Myriad Genetics's Finances
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Myriad Genetics's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 11.59%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -12.86%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -3.37%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Myriad Genetics's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -2.3% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.19.
Analyst Ratings: What Are They?
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
This article was generated by Benzinga's automated content engine and reviewed by an editor.