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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) have earned an average rating of "Hold" from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $21.82.

MYGN has been the topic of several recent research reports. Raymond James reaffirmed an "outperform" rating and issued a $19.00 price target (down from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Stephens reissued an "equal weight" rating and set a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Piper Sandler reduced their price target on shares of Myriad Genetics from $14.00 to $11.50 and set a "neutral" rating for the company in a research report on Tuesday. Leerink Partnrs downgraded shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 9th. Finally, Craig Hallum started coverage on shares of Myriad Genetics in a report on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price objective for the company.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in Myriad Genetics during the third quarter worth approximately $32,000. Sterling Capital Management LLC grew its stake in Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after buying an additional 2,556 shares during the period. KBC Group NV grew its stake in Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after buying an additional 3,334 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company's stock worth $132,000 after buying an additional 1,471 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in Myriad Genetics by 588.4% during the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company's stock worth $135,000 after buying an additional 4,207 shares during the period. Institutional investors and hedge funds own 99.02% of the company's stock.

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Myriad Genetics Trading Down 3.2 %

Shares of NASDAQ:MYGN traded down $0.34 during trading hours on Friday, hitting $10.18. 819,577 shares of the company's stock traded hands, compared to its average volume of 1,155,522. Myriad Genetics has a 1 year low of $9.76 and a 1 year high of $29.30. The business has a fifty day moving average price of $13.02 and a 200-day moving average price of $18.55. The firm has a market capitalization of $929.53 million, a P/E ratio of -7.83 and a beta of 1.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same period in the prior year, the firm posted ($0.12) EPS. Equities analysts expect 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.