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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have received an average recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.4444.

Several research analysts have issued reports on the company. Piper Sandler dropped their target price on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. UBS Group raised their price objective on shares of Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. TD Cowen restated a “hold” rating on shares of Myriad Genetics in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Myriad Genetics from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Myriad Genetics by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 8,225,371 shares of the company’s stock valued at $50,586,000 after purchasing an additional 342,856 shares during the period. Glenview Capital Management LLC lifted its position in shares of Myriad Genetics by 17.6% during the 2nd quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company’s stock valued at $24,359,000 after buying an additional 687,857 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Myriad Genetics by 157.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock valued at $17,662,000 after buying an additional 1,492,405 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Myriad Genetics by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,231,292 shares of the company’s stock valued at $13,725,000 after acquiring an additional 6,123 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Myriad Genetics by 0.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,160,282 shares of the company’s stock worth $13,286,000 after acquiring an additional 8,503 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Trading Down 4.8%

NASDAQ:MYGN opened at $4.84 on Thursday. The company has a market cap of $450.86 million, a PE ratio of -1.12 and a beta of 1.90. The company has a current ratio of 2.33, a quick ratio of 2.12 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $6.22 and a two-hundred day simple moving average of $6.63. Myriad Genetics has a 12 month low of $3.76 and a 12 month high of $15.47.

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.