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

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus recommendation of “Hold” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $28.60.

MYGN has been the subject of several analyst reports. TD Cowen upped their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Scotiabank raised their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Piper Sandler lifted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group restated an “underperform” rating and set a $20.00 price objective (down from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd.

Myriad Genetics Trading Up 2.5 %

NASDAQ:MYGN opened at $28.60 on Friday. The business’s 50-day moving average is $27.29 and its two-hundred day moving average is $23.96. The firm has a market capitalization of $2.59 billion, a PE ratio of -10.09 and a beta of 1.92. Myriad Genetics has a 12 month low of $13.82 and a 12 month high of $29.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted ($0.21) EPS. Research analysts predict that Myriad Genetics will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the sale, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MYGN. Hexagon Capital Partners LLC boosted its position in shares of Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after purchasing an additional 491 shares in the last quarter. Innealta Capital LLC acquired a new stake in Myriad Genetics during the second quarter valued at approximately $36,000. Point72 DIFC Ltd acquired a new stake in Myriad Genetics during the second quarter valued at approximately $60,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Myriad Genetics during the second quarter worth approximately $82,000. Finally, Neo Ivy Capital Management acquired a new position in Myriad Genetics in the second quarter worth approximately $85,000. 99.02% of the stock is owned by institutional investors and hedge funds.

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.