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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) have earned a consensus rating of "Hold" from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $22.54.

A number of equities analysts have recently issued reports on MYGN shares. Leerink Partners downgraded shares of 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 research note on Monday, December 9th. Bank of America cut their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating on the stock in a research note on Friday, December 13th. Leerink Partnrs lowered shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. Stephens restated an "equal weight" rating and set a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, UBS Group began coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They set a "neutral" rating and a $18.00 price target on the stock.

Hedge Funds Weigh In On Myriad Genetics

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position 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 during the last quarter. Atria Investments Inc increased its position in Myriad Genetics by 5.4% during 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Myriad Genetics by 21.6% during 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 last quarter. Creative Planning increased its position in Myriad Genetics by 9.8% during 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 last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics during the third quarter worth about $32,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Up 11.9 %

Shares of NASDAQ MYGN traded up $1.56 during midday trading on Monday, reaching $14.65. 1,866,442 shares of the company's stock traded hands, compared to its average volume of 1,068,522. 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 simple moving average is $13.47 and its 200-day simple moving average is $20.10. Myriad Genetics has a one year low of $12.04 and a one year high of $29.30. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -11.27 and a beta of 1.88.

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.