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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned an average rating of “Hold” from the fifteen research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $21.82.

A number of research analysts have weighed in on MYGN shares. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Bank of America decreased their price objective on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday. Raymond James restated an “outperform” rating and issued a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. UBS Group decreased their price objective on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, StockNews.com lowered Myriad Genetics from a “buy” rating to a “hold” rating in a report on Saturday, March 1st.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $10.52 on Friday. The company’s fifty day moving average price is $13.08 and its 200 day moving average price is $18.61. Myriad Genetics has a 1 year low of $9.76 and a 1 year high of $29.30. The stock has a market capitalization of $957.69 million, a P/E ratio of -8.09 and a beta of 1.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The company had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same period in the prior year, the business posted ($0.12) EPS. As a group, equities research analysts anticipate that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Myriad Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of MYGN. Loomis Sayles & Co. L P increased its position in shares of Myriad Genetics by 153.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock worth $59,973,000 after purchasing an additional 1,326,497 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Myriad Genetics by 58.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company’s stock worth $24,950,000 after purchasing an additional 668,429 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Myriad Genetics by 21.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after purchasing an additional 440,107 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Myriad Genetics by 377.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company’s stock worth $7,533,000 after purchasing an additional 434,420 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in shares of Myriad Genetics during the 3rd quarter worth about $11,007,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

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.