Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $27.36 Average PT from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) have been given an average recommendation of "Hold" by the twelve brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $27.36.

A number of brokerages have commented on MYGN. JPMorgan Chase & Co. lifted their price target on Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 7th. Morgan Stanley cut their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 target price for the company. Piper Sandler reduced their price target on Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Finally, TD Cowen boosted their target price on Myriad Genetics from $28.00 to $30.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th.

Insider Transactions at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the sale, the chief executive officer now directly owns 962,378 shares of the company's stock, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the sale, the director now directly owns 121,648 shares of the company's stock, valued at approximately $3,290,578.40. The trade was a 7.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,012 shares of company stock worth $1,900,485 over the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Myriad Genetics

Hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its position in Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company's stock valued at $28,000 after buying an additional 491 shares during the period. Point72 Hong Kong Ltd bought a new position in Myriad Genetics in the third quarter worth approximately $32,000. Innealta Capital LLC purchased a new position in Myriad Genetics during the 2nd quarter worth $36,000. GAMMA Investing LLC increased its holdings in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock worth $44,000 after purchasing an additional 412 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Myriad Genetics during the 2nd quarter valued at $60,000. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Price Performance

NASDAQ MYGN traded up $0.11 during trading hours on Wednesday, hitting $16.28. The company had a trading volume of 713,467 shares, compared to its average volume of 745,519. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -12.52 and a beta of 1.93. Myriad Genetics has a 52 week low of $14.72 and a 52 week high of $29.30. The firm has a 50 day simple moving average of $21.77 and a 200 day simple moving average of $24.35.

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.