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

Myriad Genetics, Inc. (NASDAQ:MYGN) has been assigned an average rating of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.50.

A number of analysts have recently weighed in on MYGN shares. TD Cowen increased their price objective on shares of Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. UBS Group raised their target price on Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday. Piper Sandler cut their target price on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Wells Fargo & Company raised their price target on shares of Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MYGN. Nisa Investment Advisors LLC grew its holdings in Myriad Genetics by 23.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,120 shares of the company’s stock worth $51,000 after acquiring an additional 1,347 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Myriad Genetics by 1.8% in the third quarter. Alliancebernstein L.P. now owns 101,234 shares of the company’s stock valued at $732,000 after buying an additional 1,784 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Myriad Genetics by 8.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,666 shares of the company’s stock worth $126,000 after acquiring an additional 1,881 shares in the last quarter. Legal & General Group Plc grew its position in shares of Myriad Genetics by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 237,688 shares of the company’s stock valued at $1,262,000 after buying an additional 2,313 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Myriad Genetics by 41.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,967 shares of the company’s stock worth $48,000 after buying an additional 2,625 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Price Performance

NASDAQ MYGN opened at $6.88 on Wednesday. The company has a market cap of $641.28 million, a price-to-earnings ratio of -1.59 and a beta of 1.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 2.12. The stock’s fifty day moving average price is $7.35 and its 200 day moving average price is $6.37. Myriad Genetics has a 1 year low of $3.76 and a 1 year high of $15.47.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share for the quarter. Myriad Genetics had a negative net margin of 48.53% and a negative return on equity of 7.11%. The firm had revenue of $156.40 million for the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. As a group, equities research analysts forecast that Myriad Genetics will post -0.3 earnings per share for the current year.

Myriad Genetics Company Profile

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.