Brokerages Set Myriad Genetics, Inc. (NASDAQ:MYGN) PT at $27.10

Myriad Genetics, Inc. (NASDAQ:MYGN) has been assigned an average rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $27.10.

MYGN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Piper Sandler boosted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group restated an “underperform” rating and issued a $20.00 target price (down previously from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Leerink Partnrs upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. Finally, TD Cowen boosted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, Director Daniel K. Spiegelman sold 3,788 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.04, for a total transaction of $83,487.52. Following the sale, the director now owns 36,705 shares of the company’s stock, valued at approximately $808,978.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MYGN. Mutual of America Capital Management LLC increased its holdings in shares of Myriad Genetics by 8.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 15,519 shares of the company’s stock worth $297,000 after purchasing an additional 1,167 shares during the period. Louisiana State Employees Retirement System purchased a new position in Myriad Genetics in the fourth quarter worth $850,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Myriad Genetics by 45.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,305 shares of the company’s stock worth $389,000 after acquiring an additional 6,367 shares in the last quarter. Handelsbanken Fonder AB grew its position in Myriad Genetics by 19.3% in the fourth quarter. Handelsbanken Fonder AB now owns 17,288 shares of the company’s stock worth $331,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in Myriad Genetics by 7.8% in the fourth quarter. Yousif Capital Management LLC now owns 44,096 shares of the company’s stock worth $844,000 after acquiring an additional 3,195 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Price Performance

MYGN stock opened at $28.12 on Monday. The company has a market capitalization of $2.55 billion, a P/E ratio of -9.81 and a beta of 1.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.99. Myriad Genetics has a 52-week low of $13.82 and a 52-week high of $28.90. The business has a 50-day simple moving average of $26.26 and a two-hundred day simple moving average of $23.38.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. Research analysts expect that Myriad Genetics will post -0.36 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.