Myriad Genetics, Inc. (NASDAQ:MYGN) Given Average Recommendation of “Hold” by Brokerages

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

A number of analysts have weighed in on MYGN shares. Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $11.50 to $12.50 in a research note on Wednesday, March 12th. StockNews.com lowered Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a report on Thursday, January 16th. 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 on the stock. Finally, Scotiabank reduced their price target on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 1st.

Myriad Genetics Trading Down 3.3 %

Shares of MYGN stock opened at $8.13 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics has a fifty-two week low of $7.88 and a fifty-two week high of $29.30. The company has a market cap of $742.34 million, a PE ratio of -6.25 and a beta of 1.79. The stock’s fifty day moving average price is $11.36 and its two-hundred day moving average price is $15.84.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share 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 analyst estimates of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Equities analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Myriad Genetics

Several large investors have recently modified their holdings of MYGN. Point72 Hong Kong Ltd acquired a new position in Myriad Genetics in the third quarter valued at $32,000. Sterling Capital Management LLC grew its stake in Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after purchasing an additional 2,556 shares during the period. KBC Group NV increased its holdings in Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after buying an additional 1,471 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Myriad Genetics during the 3rd quarter worth approximately $153,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

About Myriad Genetics

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.