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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $23.92.

Several research analysts recently commented on the company. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group initiated coverage on Myriad Genetics in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 target price for the company. StockNews.com upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, Piper Sandler dropped their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, November 11th.

Myriad Genetics Stock Down 2.3 %

Shares of MYGN stock opened at $12.28 on Thursday. The stock has a market cap of $1.12 billion, a P/E ratio of -9.45 and a beta of 1.89. Myriad Genetics has a one year low of $12.17 and a one year high of $29.30. The stock has a fifty day moving average price of $14.44 and a 200 day moving average price of $21.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Thursday, November 7th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $213.30 million during the quarter, compared to the consensus estimate of $209.82 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period last year, the business earned ($0.17) earnings per share. Analysts predict that Myriad Genetics will post -0.28 earnings per share for the current year.

Institutional Trading of Myriad Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of 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 buying an additional 412 shares in the last quarter. Atria Investments Inc increased its position in Myriad Genetics by 5.4% in the third 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 position in Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after purchasing an additional 583 shares during the period. Federated Hermes Inc. increased its position in Myriad Genetics by 1.5% in the second quarter. Federated Hermes Inc. now owns 56,807 shares of the company’s stock worth $1,389,000 after purchasing an additional 846 shares during the period. Finally, Creative Planning increased its position in Myriad Genetics by 9.8% in the third quarter. Creative Planning now owns 9,949 shares of the company’s stock worth $273,000 after purchasing an additional 892 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

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.