Myriad Genetics Inc (NASDAQ:MYGN) bottoming near 52-week low, short interest surging

Myriad Genetics Inc (NASDAQ:MYGN) (Trend Analysis) shares were traded with no significant volume change. The stock closed last trading session at $17.38, down by 0%, with a volume of 2,340,387 shares against an average amount for the last three months of 2,136,500.

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Myriad Genetics Inc (NASDAQ:MYGN) stock is currently trading 61.67% below its 52-week-high, 9.17% above its 52-week-low. The 1-year stock price history is in the range of $15.92 – $45.34. Myriad Genetics Inc (MYGN) has a price to earnings ratio of 13.44 versus Services sector average of 20.03. MYGN stock price has underperformed the Nasdaq by 65.8%. The Biotechnology company is currently valued at $1.19 billion, and its share price closed the last trading session at $17.38. The stock has a 50-day moving average of $19.59 and a 200-day moving average of $26.92.

Myriad Genetics Inc (MYGN) current short interest stands at 23.02 million shares. It has increased by 22% from the same period of last month. Around 37% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.59 million shares, the number of days required to cover the short positions stand at 8.9 days.

Myriad Genetics Inc (MYGN) declared last quarter earnings on November 01. The Biotechnology company announced last quarter earnings per share of $0.23 against a consensus Street estimate of $0.26, missing estimate by $0.03. The company posted a revenue of $177.5 million compared to an estimation of $170.2 million.

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There are currently seventeen analysts that cover Myriad Genetics Inc stock. Of those seventeen, four have a Buy rating, eight have a Hold rating and five have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $21.46.

A recent analyst activity consisted of Ladenburg Thalmann downgrading their Neutral rating to Sell on October 10. Ladenburg Thalmann set their price target at $16. This corresponds to a 7.94% downside from the last closing price. On the date of report, the stock closed at $18.87.

Jefferies reiterated their Hold stance on August 11, and decreased their price target from $34 to $20. This corresponds to a 15.07% upside from the last closing price. On the date of report, the stock closed at $20.8.

Another research firm was Piper Jaffray who downgraded their Overweight rating to Neutral on August 10. Piper Jaffray decreased price target from $47 to $22. This translates to a 26.58% upside from the last closing price. On the date of report, the stock closed at $19.7.

Company snapshot

Myriad Genetics, Inc. develops and markets molecular diagnostic products to provide physicians with information to help guide the care of their patients, to prevent disease, delay the onset of disease, or catch disease at an early stage.

Myriad Genetics Inc (NASDAQ:MYGN) bottoming near 52-week low, short interest surging was last modified: November 11th, 2016 by Pat Mayfield