Brokerages Set Myriad Genetics, Inc. (NASDAQ:MYGN) Target Price at $24.27

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) have been assigned an average recommendation of "Hold" from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.92.

A number of brokerages recently issued reports on MYGN. UBS Group initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They set a "neutral" rating and a $18.00 price target on the stock. Morgan Stanley lowered their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. StockNews.com upgraded 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. Finally, Bank of America cut their price objective on Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating for the company in a research report on Friday, December 13th.

Institutional Investors Weigh In On Myriad Genetics

A number of hedge funds have recently modified their holdings of MYGN. GAMMA Investing LLC grew its stake in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock valued at $44,000 after acquiring an additional 412 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Myriad Genetics by 5.4% in the third quarter. Atria Investments Inc now owns 11,414 shares of the company's stock valued at $313,000 after purchasing an additional 581 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 buying an additional 583 shares during the last quarter. Federated Hermes Inc. grew its holdings in Myriad Genetics by 1.5% in the 2nd quarter. Federated Hermes Inc. now owns 56,807 shares of the company's stock valued at $1,389,000 after buying an additional 846 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Myriad Genetics by 9.8% in the 3rd quarter. Creative Planning now owns 9,949 shares of the company's stock worth $273,000 after acquiring an additional 892 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Performance

Myriad Genetics stock traded down $0.63 during mid-day trading on Thursday, hitting $12.52. The company had a trading volume of 1,231,298 shares, compared to its average volume of 946,330. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.63 and a beta of 1.89. Myriad Genetics has a 12-month low of $12.17 and a 12-month high of $29.30. The company's fifty day moving average is $14.89 and its 200-day moving average is $22.04. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

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.