Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $8.94 Average Price Target from Brokerages

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given a consensus rating of “Hold” by the twelve brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.9375.

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a research note on Friday, March 27th. Zacks Research raised shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company reduced their price objective on shares of Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Finally, UBS Group decreased their price objective on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th.

Myriad Genetics Stock Up 3.5%

Shares of Myriad Genetics stock opened at $4.75 on Friday. Myriad Genetics has a 1-year low of $3.76 and a 1-year high of $8.74. The company has a market capitalization of $444.17 million, a PE ratio of -1.21 and a beta of 1.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.49 and a quick ratio of 2.26. The business has a 50-day moving average of $4.89 and a 200-day moving average of $6.34.

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

Insider Activity

In other news, CEO Samraat S. Raha purchased 40,000 shares of the stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $200,000.00. Following the acquisition, the chief executive officer owned 493,104 shares of the company’s stock, valued at $2,465,520. The trade was a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director S. Louise Phanstiel purchased 48,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $4.66 per share, for a total transaction of $223,680.00. Following the completion of the transaction, the director owned 281,951 shares in the company, valued at approximately $1,313,891.66. This represents a 20.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 144,507 shares of company stock valued at $694,548. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Myriad Genetics

A number of institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Myriad Genetics by 2,333.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after buying an additional 4,480 shares during the period. Quarry LP lifted its holdings in Myriad Genetics by 155.6% in the fourth quarter. Quarry LP now owns 4,365 shares of the company’s stock worth $27,000 after acquiring an additional 2,657 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Myriad Genetics by 1,088.7% in the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock worth $30,000 after acquiring an additional 3,745 shares during the last quarter. Royal Bank of Canada boosted its stake in Myriad Genetics by 129.6% in the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock valued at $31,000 after acquiring an additional 2,818 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Myriad Genetics during the second quarter valued at approximately $37,000. 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.