Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $22.00 Average PT from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.54.

Several research firms have recently issued reports on MYGN. StockNews.com raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $30.00 to $21.00 in a report on Monday, December 9th. Stephens reaffirmed an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, Bank of America decreased their target price on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th.

Myriad Genetics Price Performance

Shares of MYGN opened at $13.09 on Monday. The business’s 50-day moving average is $13.51 and its two-hundred day moving average is $20.14. The company has a market capitalization of $1.19 billion, a P/E ratio of -10.07 and a beta of 1.88. Myriad Genetics has a fifty-two week low of $12.04 and a fifty-two week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Institutional Trading of Myriad Genetics

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in Myriad Genetics during the third quarter worth about $32,000. GAMMA Investing LLC lifted its holdings in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after acquiring an additional 412 shares during the last quarter. KBC Group NV boosted its position in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the period. 99.02% of the stock is 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.