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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have received an average rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $9.1667.

A number of research firms have recently weighed in on MYGN. TD Cowen reaffirmed a “hold” rating on shares of Myriad Genetics in a research report on Tuesday, November 4th. Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company lowered their price objective on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. UBS Group reduced their target price on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday, December 29th.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $4.91 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.49 and a quick ratio of 2.26. The company has a market cap of $458.67 million, a P/E ratio of -1.24 and a beta of 1.91. The stock has a 50-day moving average of $5.61 and a two-hundred day moving average of $6.60. Myriad Genetics has a 1-year low of $3.76 and a 1-year high of $11.44.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $209.80 million during the quarter, compared to analyst estimates of $207.57 million. Myriad Genetics had a negative net margin of 44.38% and a negative return on equity of 6.35%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. As a group, analysts anticipate that Myriad Genetics will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other Myriad Genetics news, Director S. Louise Phanstiel purchased 48,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $4.66 per share, for a total transaction of $223,680.00. Following the completion of the purchase, the director directly owned 281,951 shares in the company, valued at approximately $1,313,891.66. This represents a 20.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 104,507 shares of company stock valued at $494,548 in the last 90 days. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Myriad Genetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. acquired a new stake in Myriad Genetics during the first quarter worth approximately $105,000. Royal Bank of Canada raised its stake in Myriad Genetics by 82.4% during the 1st quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock worth $296,000 after acquiring an additional 15,057 shares in the last quarter. AQR Capital Management LLC lifted its position in Myriad Genetics by 278.9% in the first quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock valued at $3,844,000 after acquiring an additional 319,007 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Myriad Genetics by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock valued at $2,654,000 after acquiring an additional 14,027 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Myriad Genetics by 1,076.9% during the first quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock worth $1,897,000 after purchasing an additional 195,658 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

About Myriad Genetics

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.