Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Rating of "Hold" from Brokerages

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has been assigned an average rating of "Hold" from the sixteen ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.61.

A number of equities research analysts have recently weighed in on MYGN shares. UBS Group cut their target price on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Craig Hallum started coverage on Myriad Genetics in a research report on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price target for the company. Bank of America decreased their price target on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a research note on Monday, March 3rd. Guggenheim downgraded shares of Myriad Genetics from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Finally, Raymond James reiterated an "outperform" rating and issued a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MYGN. Sterling Capital Management LLC boosted its holdings in shares of Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after purchasing an additional 2,556 shares during the period. GAMMA Investing LLC increased its position in Myriad Genetics by 520.8% during the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock valued at $40,000 after purchasing an additional 3,750 shares during the period. KBC Group NV raised its position in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after acquiring an additional 3,334 shares in the last quarter. M.E. Allison & CO. Inc. purchased a new stake in Myriad Genetics during the first quarter valued at approximately $93,000. Finally, Inspire Advisors LLC boosted its holdings in Myriad Genetics by 48.1% in the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock worth $154,000 after acquiring an additional 3,644 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Trading Down 4.0 %

NASDAQ:MYGN traded down $0.30 during mid-day trading on Friday, reaching $7.20. 1,625,169 shares of the company's stock traded hands, compared to its average volume of 953,571. Myriad Genetics has a 12-month low of $7.16 and a 12-month high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a 50 day moving average price of $9.40 and a 200-day moving average price of $13.50. The firm has a market capitalization of $663.63 million, a price-to-earnings ratio of -5.54 and a beta of 1.87.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its 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). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million for the quarter, compared to analysts' expectations of $210.35 million. During the same period last year, the firm posted ($0.12) earnings per share. On average, sell-side analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.

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.