Myriad Genetics, Inc. (NASDAQ:MYGN) Stock Has Average Target Price of $3.12 According to Brokerages

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been assigned a consensus rating of “Reduce” from the seven brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.12.

MYGN has been the subject of several research analyst reports. UBS Group initiated coverage on Myriad Genetics in a research note on Wednesday, September 9th. They set a “neutral” rating and a $3.60 price objective for the company. Stephens decreased their target price on Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Weiss Ratings cut Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 30th. TD Cowen dropped their price target on Myriad Genetics from $6.00 to $4.00 and set a “hold” rating for the company in a research report on Friday, July 31st. Finally, Piper Sandler cut shares of Myriad Genetics from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $5.45 to $2.00 in a research report on Tuesday, September 1st.

Hedge Funds Weigh In On Myriad Genetics

A number of institutional investors have recently made changes to their positions in MYGN. AXQ Capital LP boosted its position in shares of Myriad Genetics by 37.1% during the fourth quarter. AXQ Capital LP now owns 15,691 shares of the company’s stock valued at $96,000 after buying an additional 4,243 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Myriad Genetics in the second quarter worth approximately $25,000. Impact Partnership Wealth LLC grew its position in Myriad Genetics by 60.1% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,184 shares of the company’s stock valued at $100,000 after buying an additional 6,078 shares during the period. EverSource Wealth Advisors LLC grew its position in Myriad Genetics by 139.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,469 shares of the company’s stock valued at $64,000 after buying an additional 6,097 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Myriad Genetics during the second quarter valued at approximately $54,000. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $4.14 on Friday. The company has a 50 day moving average of $3.80 and a 200 day moving average of $4.41. The company has a current ratio of 2.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The stock has a market cap of $395.99 million, a P/E ratio of -3.48 and a beta of 1.68. Myriad Genetics has a 12 month low of $2.74 and a 12 month high of $8.59.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.19). The firm had revenue of $190.70 million during the quarter, compared to the consensus estimate of $206.03 million. Myriad Genetics had a negative net margin of 13.96% and a negative return on equity of 16.09%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, sell-side analysts forecast that Myriad Genetics will post -0.99 EPS for the current fiscal year.

Myriad Genetics Company Profile

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests designed to help healthcare providers assess disease risk, guide treatment decisions and support personalized care. The company serves physicians, health systems, pharmaceutical companies and patients, with a focus on areas including hereditary cancer, precision oncology, pharmacogenomics and women’s health.

Its portfolio includes hereditary cancer testing, such as MyRisk, and oncology tests that analyze tumor biology to help inform treatment planning.