Analysts Set Myriad Genetics, Inc. (NASDAQ:MYGN) Target Price at $28.91

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has been given a consensus recommendation of "Hold" by the twelve brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.91.

Several brokerages have issued reports on MYGN. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 target price for the company. Morgan Stanley assumed coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They set an "equal weight" rating and a $32.00 price objective for the company. Scotiabank upped their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 13th. Piper Sandler raised their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. Finally, 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.

Insiders Place Their Bets

In other news, Director Colleen F. Reitan sold 46,012 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now owns 42,533 shares in the company, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now owns 121,648 shares of the company's stock, valued at $3,290,578.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares of the company's stock, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock valued at $1,900,485 in the last ninety days. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Myriad Genetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Myriad Genetics by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company's stock valued at $213,961,000 after purchasing an additional 81,475 shares during the period. Earnest Partners LLC boosted its stake in shares of Myriad Genetics by 3.5% during the 2nd quarter. Earnest Partners LLC now owns 4,072,018 shares of the company's stock valued at $99,602,000 after purchasing an additional 138,960 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Myriad Genetics by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company's stock valued at $67,924,000 after buying an additional 75,445 shares during the period. Sei Investments Co. raised its stake in Myriad Genetics by 5.4% in the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company's stock worth $59,125,000 after buying an additional 124,007 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Myriad Genetics by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,087,328 shares of the company's stock worth $51,056,000 after buying an additional 10,035 shares during the period. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Stock Performance

NASDAQ:MYGN traded down $3.97 during trading hours on Friday, hitting $17.99. The stock had a trading volume of 3,737,817 shares, compared to its average volume of 565,473. The company has a 50 day simple moving average of $25.57 and a two-hundred day simple moving average of $24.72. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. Myriad Genetics has a one year low of $15.78 and a one year high of $29.30.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The business had revenue of $211.50 million during the quarter, compared to analysts' expectations of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The firm's revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) earnings per share. On average, equities research analysts anticipate that Myriad Genetics will post -0.35 EPS for the current fiscal 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.