Myriad Genetics (MYGN) Receives a Hold from Needham

By Jason Carr

In a report released today, Stephen Unger from Needham maintained a Hold rating on Myriad Genetics (MYGNResearch Report). The company’s shares closed last Monday at $35.10.

According to TipRanks.com, Unger is a 4-star analyst with an average return of 11.2% and a 64.7% success rate. Unger covers the Healthcare sector, focusing on stocks such as Thermo Fisher, PerkinElmer, and Veracyte.

Myriad Genetics has an analyst consensus of Moderate Sell, with a price target consensus of $28.00, a -17.6% downside from current levels. In a report released today, Piper Jaffray also maintained a Hold rating on the stock with a $22.00 price target.

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Based on Myriad Genetics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.2 million. In comparison, last year the company had a GAAP net loss of $700K.

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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.