Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $21.89 Consensus PT from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) have been given an average rating of "Hold" by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.89.

MYGN has been the subject of several recent research reports. Scotiabank reduced their target price on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating for the company in a report on Tuesday. The Goldman Sachs Group reduced their price objective on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Stephens reissued an "equal weight" rating and issued a $20.00 price objective on shares of Myriad Genetics in a report on Thursday, January 16th. Bank of America dropped their target price on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a report on Monday, March 3rd. Finally, UBS Group reduced their price target on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th.

Institutional Trading of Myriad Genetics

Several institutional investors have recently modified their holdings of MYGN. Nordea Investment Management AB lifted its stake in Myriad Genetics by 117.0% in the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company's stock valued at $4,548,000 after buying an additional 179,527 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Myriad Genetics by 144.2% during the fourth quarter. Jennison Associates LLC now owns 59,015 shares of the company's stock valued at $809,000 after acquiring an additional 34,853 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Myriad Genetics by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 61,341 shares of the company's stock valued at $841,000 after acquiring an additional 3,711 shares in the last quarter. Barclays PLC boosted its stake in shares of Myriad Genetics by 136.9% in the third quarter. Barclays PLC now owns 190,243 shares of the company's stock worth $5,210,000 after acquiring an additional 109,931 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Myriad Genetics by 26.7% during the third quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company's stock worth $29,135,000 after purchasing an additional 224,255 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company's stock.

Myriad Genetics Stock Performance

MYGN traded down $0.28 on Tuesday, reaching $8.13. 1,756,848 shares of the stock were exchanged, compared to its average volume of 887,920. 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's 50-day moving average price is $11.36 and its 200 day moving average price is $15.84. The firm has a market capitalization of $742.34 million, a PE ratio of -6.25 and a beta of 1.79. Myriad Genetics has a fifty-two week low of $7.88 and a fifty-two week high of $29.30.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The firm had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same period last year, the firm earned ($0.12) EPS. As a group, sell-side analysts forecast that Myriad Genetics will post -0.3 EPS for the current fiscal year.

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.