Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Consensus Rating of “Hold” from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.9375.

Several equities research analysts recently issued reports on MYGN shares. Zacks Research raised shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Piper Sandler decreased their price objective on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. UBS Group dropped their target price on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. Finally, Wells Fargo & Company reduced their price target on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th.

Myriad Genetics Stock Up 0.4%

NASDAQ MYGN opened at $5.15 on Monday. The company has a quick ratio of 2.26, a current ratio of 2.49 and a debt-to-equity ratio of 0.33. Myriad Genetics has a fifty-two week low of $3.76 and a fifty-two week high of $11.44. The business has a 50 day moving average price of $5.47 and a two-hundred day moving average price of $6.57. The stock has a market cap of $481.58 million, a PE ratio of -1.31 and a beta of 1.91.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Monday, February 23rd. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $209.80 million for the quarter, compared to analysts’ expectations of $207.57 million. Myriad Genetics had a negative net margin of 44.38% and a negative return on equity of 6.35%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. As a group, sell-side analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Insider Activity

In other Myriad Genetics news, Director S. Louise Phanstiel bought 50,407 shares of Myriad Genetics stock in a transaction dated Thursday, February 26th. The stock was bought at an average cost of $4.80 per share, for a total transaction of $241,953.60. Following the purchase, the director owned 233,951 shares in the company, valued at $1,122,964.80. This represents a 27.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 104,507 shares of company stock valued at $494,548. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Myriad Genetics

Several institutional investors have recently added to or reduced their stakes in MYGN. Baird Financial Group Inc. bought a new position in Myriad Genetics during the 1st quarter valued at $105,000. Royal Bank of Canada increased its position in shares of Myriad Genetics by 82.4% in the 1st quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock worth $296,000 after purchasing an additional 15,057 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Myriad Genetics by 278.9% in the 1st quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock worth $3,844,000 after purchasing an additional 319,007 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Myriad Genetics by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock valued at $2,654,000 after purchasing an additional 14,027 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Myriad Genetics by 1,076.9% in the 1st quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock valued at $1,897,000 after purchasing an additional 195,658 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.