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Weakness Seen in Myriad (MYGN): Stock Tumbles 7.2%

Zacks Equity Research

Myriad Genetics Inc. (MYGN) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $36.64 to $38.87 in the past one-month time frame.

This slump shouldn’t be too much of a surprise to investors, as this molecular diagnostic company has seen one negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

MYGN currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the Medical – Biomedical/Genetics industry include Halozyme Therapeutics, Inc. (HALO), Emergent BioSolutions, Inc. (EBS) and Exact Sciences Corporation (EXAS). All these stocks hold a Zacks Rank #1 (Strong Buy).

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MYRIAD GENETICS INC (MYGN): Free Stock Analysis Report


Zacks Investment Research