Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $28.91 Consensus Price Target from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has received an average recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $28.91.

Several research analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price objective for the company. Scotiabank raised their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Piper Sandler upped their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target for the company.

Insider Buying and Selling

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 in the company, valued at approximately $3,290,578.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Myriad Genetics

Large investors have recently modified their holdings of the stock. Sei Investments Co. increased its position in Myriad Genetics by 41.9% during the 4th quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock worth $41,370,000 after buying an additional 638,147 shares during the period. Glenview Capital Management LLC raised its stake in Myriad Genetics by 39.6% in the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after purchasing an additional 1,500,000 shares in the last quarter. Virtu Financial LLC bought a new stake in Myriad Genetics in the 4th quarter valued at about $428,000. Wellington Management Group LLP grew its position in shares of Myriad Genetics by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after purchasing an additional 1,223,446 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Myriad Genetics by 10.7% during the 4th quarter. Fisher Asset Management LLC now owns 157,969 shares of the company’s stock worth $3,024,000 after purchasing an additional 15,313 shares in the last quarter. 99.02% of the stock is owned by institutional investors.

Myriad Genetics Price Performance

Shares of Myriad Genetics stock opened at $23.07 on Tuesday. The firm has a market cap of $2.09 billion, a P/E ratio of -8.18 and a beta of 1.91. The firm’s 50-day simple moving average is $27.14 and its 200-day simple moving average is $24.51. Myriad Genetics has a twelve month low of $13.82 and a twelve month high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The business had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $206.44 million. During the same period in the prior year, the firm posted ($0.21) EPS. Myriad Genetics’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts expect that Myriad Genetics will post -0.35 EPS for the current fiscal 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.