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

Myriad Genetics, Inc. (NASDAQ:MYGN) has been assigned an average recommendation of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.50.

Several equities analysts recently issued reports on the company. TD Cowen boosted their price target on Myriad Genetics from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Piper Sandler dropped their target price on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. Cowen reiterated a “hold” rating on shares of Myriad Genetics in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company upped their price objective on shares of Myriad Genetics from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th.

Institutional Investors Weigh In On Myriad Genetics

A number of hedge funds have recently added to or reduced their stakes in MYGN. Nisa Investment Advisors LLC increased its position in Myriad Genetics by 23.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,120 shares of the company’s stock worth $51,000 after purchasing an additional 1,347 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Myriad Genetics by 1.8% in the third quarter. Alliancebernstein L.P. now owns 101,234 shares of the company’s stock valued at $732,000 after buying an additional 1,784 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Myriad Genetics by 8.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,666 shares of the company’s stock worth $126,000 after acquiring an additional 1,881 shares during the period. Legal & General Group Plc raised its position in Myriad Genetics by 1.0% in the second quarter. Legal & General Group Plc now owns 237,688 shares of the company’s stock worth $1,262,000 after acquiring an additional 2,313 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Myriad Genetics by 41.4% in the second quarter. PNC Financial Services Group Inc. now owns 8,967 shares of the company’s stock valued at $48,000 after acquiring an additional 2,625 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Up 0.3%

MYGN stock opened at $6.58 on Friday. The company has a market cap of $613.35 million, a price-to-earnings ratio of -1.52 and a beta of 1.81. The company has a fifty day moving average price of $6.82 and a 200 day moving average price of $6.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 2.12. Myriad Genetics has a 12 month low of $3.76 and a 12 month high of $15.47.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, January 16th. The company reported ($0.19) earnings per share (EPS) for the quarter. Myriad Genetics had a negative return on equity of 7.11% and a negative net margin of 48.53%.The business had revenue of $156.40 million for the quarter. Sell-side analysts expect that Myriad Genetics will post -0.3 earnings per share for the current year.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.