Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $22.00 Average Target Price from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned a consensus recommendation of “Hold” from the fourteen analysts that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $22.54.

MYGN has been the topic of several analyst reports. Piper Sandler reduced their price objective on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Bank of America reduced their price target on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $30.00 to $21.00 in a research note on Monday, December 9th. UBS Group began coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, Morgan Stanley decreased their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the period. Atria Investments Inc grew its stake in shares of Myriad Genetics by 5.4% during the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock worth $313,000 after purchasing an additional 581 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares in the last quarter. Creative Planning lifted its stake in shares of Myriad Genetics by 9.8% in the third quarter. Creative Planning now owns 9,949 shares of the company’s stock valued at $273,000 after purchasing an additional 892 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Myriad Genetics during the third quarter worth about $32,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of MYGN opened at $13.09 on Monday. The company has a market cap of $1.19 billion, a P/E ratio of -10.07 and a beta of 1.88. Myriad Genetics has a fifty-two week low of $12.04 and a fifty-two week high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average price is $13.51 and its 200 day moving average price is $20.14.

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.