Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Recommendation of “Hold” from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGNGet Free Report) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.17.

Several brokerages have recently commented on MYGN. Wolfe Research assumed coverage on shares of Myriad Genetics in a research report on Wednesday, December 13th. They set an “outperform” rating and a $28.00 price target for the company. Guggenheim began coverage on Myriad Genetics in a research note on Thursday, December 14th. They issued a “buy” rating and a $23.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Myriad Genetics from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Wells Fargo & Company assumed coverage on Myriad Genetics in a report on Tuesday, December 19th. They set an “equal weight” rating and a $20.00 target price on the stock. Finally, Piper Sandler assumed coverage on shares of Myriad Genetics in a research note on Thursday, December 21st. They set a “neutral” rating and a $23.00 price objective on the stock.

View Our Latest Analysis on MYGN

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in Myriad Genetics by 96.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company’s stock worth $34,000 after acquiring an additional 1,032 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Myriad Genetics by 29.0% in the 3rd quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock valued at $44,000 after purchasing an additional 526 shares during the last quarter. Natixis acquired a new position in Myriad Genetics during the fourth quarter worth about $44,000. Point72 Hong Kong Ltd lifted its stake in Myriad Genetics by 722.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock valued at $58,000 after purchasing an additional 2,826 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Myriad Genetics by 99.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company’s stock valued at $62,000 after purchasing an additional 1,326 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Price Performance

NASDAQ MYGN opened at $21.49 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.87. The stock’s 50-day moving average is $22.09 and its two-hundred day moving average is $19.06. The firm has a market cap of $1.93 billion, a P/E ratio of -6.72 and a beta of 1.96. Myriad Genetics has a fifty-two week low of $13.82 and a fifty-two week high of $24.21.

Myriad Genetics (NASDAQ:MYGNGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company had revenue of $196.60 million for the quarter, compared to analyst estimates of $194.80 million. During the same period in the prior year, the company posted ($0.20) EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, analysts anticipate that Myriad Genetics will post -0.36 earnings per share for the current fiscal year.

Myriad Genetics Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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