Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $21.89 Average Price Target from Brokerages

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.89.

A number of equities research analysts have issued reports on MYGN shares. Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Bank of America dropped their target price on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Monday, March 3rd. Craig Hallum initiated coverage on Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target for the company. Finally, StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday.

Myriad Genetics Stock Down 4.4 %

Shares of Myriad Genetics stock opened at $8.41 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 1 year low of $8.11 and a 1 year high of $29.30. The stock has a 50-day moving average price of $11.46 and a 200 day moving average price of $16.07. The company has a market cap of $767.91 million, a P/E ratio of -6.47 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The company had revenue of $210.60 million during the quarter, compared to analysts’ expectations of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period last year, the company earned ($0.12) earnings per share. As a group, analysts expect that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Myriad Genetics

Several hedge funds and other institutional investors have recently made changes to their positions in MYGN. Point72 Hong Kong Ltd acquired a new position in shares of Myriad Genetics during the 3rd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. increased its position in Myriad Genetics by 43.8% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after buying an additional 1,471 shares during the period. Blue Trust Inc. lifted its holdings in shares of Myriad Genetics by 14.1% during the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock worth $198,000 after buying an additional 1,788 shares during the last quarter. Swiss National Bank boosted its position in shares of Myriad Genetics by 1.0% in the fourth quarter. Swiss National Bank now owns 178,600 shares of the company’s stock valued at $2,449,000 after acquiring an additional 1,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Myriad Genetics by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 646,003 shares of the company’s stock valued at $8,857,000 after acquiring an additional 2,256 shares during the period. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.