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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned a consensus rating of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $21.89.

MYGN has been the topic of a number of recent research reports. Piper Sandler upgraded shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $11.50 to $12.50 in a research report on Wednesday, March 12th. The Goldman Sachs Group cut their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Bank of America lowered their target price on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Monday, March 3rd. UBS Group cut their price target 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, Raymond James restated an “outperform” rating and set a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th.

Myriad Genetics Trading Down 0.1 %

Shares of NASDAQ MYGN opened at $8.87 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $11.69 and its two-hundred day moving average price is $16.30. Myriad Genetics has a 52-week low of $8.53 and a 52-week high of $29.30. The stock has a market capitalization of $809.91 million, a P/E ratio of -6.82 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $210.60 million for 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 company posted ($0.12) earnings per share. On average, analysts anticipate that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Myriad Genetics

Several large investors have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. boosted its holdings in shares of Myriad Genetics by 58.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company’s stock valued at $24,950,000 after acquiring an additional 668,429 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in 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 valued at $69,226,000 after purchasing an additional 440,107 shares in 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 valued at $7,533,000 after purchasing an additional 434,420 shares during the period. Iron Triangle Partners LP acquired a new position in shares of Myriad Genetics during the 3rd quarter valued at $11,007,000. Finally, State Street Corp raised its stake in shares of Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after buying an additional 359,685 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

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.