Barclays Keeps Their Sell Rating on Myriad Genetics (MYGN)

By Austin Angelo

Barclays analyst Jack Meehan maintained a Sell rating on Myriad Genetics (MYGNResearch Report) today and set a price target of $21. The company’s shares opened today at $29.24, close to its 52-week low of $26.80.

According to TipRanks.com, Meehan is a 4-star analyst with an average return of 4.2% and a 54.1% success rate. Meehan covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, IQVIA Holdings Inc, and Syneos Health Inc.

Currently, the analyst consensus on Myriad Genetics is a Moderate Buy with an average price target of $40.43.

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Based on Myriad Genetics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $700K. In comparison, last year the company earned revenue of $194 million and had a net profit of $32.1 million.

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Myriad Genetics, Inc. engages in the discovery, development, and marketing of transformative molecular diagnostic test. It operates through Diagnostics and Other segments. The Diagnostics segment engages in the provision of testing and collaborative development of testing that is designed to asses a risk of developing a disease later in life of an individual.