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

Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.91.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Morgan Stanley assumed 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 on the stock. Scotiabank boosted their target price on shares of 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 raised their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, TD Cowen upped their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th.

Myriad Genetics Trading Down 0.9 %

NASDAQ:MYGN opened at $17.83 on Friday. Myriad Genetics has a 52 week low of $15.99 and a 52 week high of $29.30. The firm has a 50-day moving average price of $25.57 and a two-hundred day moving average price of $24.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -9.85 and a beta of 1.93.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating 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 company had revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. During the same period last year, the business posted ($0.21) earnings per share. Myriad Genetics’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts expect that Myriad Genetics will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Myriad Genetics

In related news, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the sale, the chief executive officer now directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Heinrich Dreismann sold 10,000 shares of the company’s 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 in the company, valued at approximately $3,290,578.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,012 shares of company stock valued at $1,900,485 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MYGN. GAMMA Investing LLC raised its position in shares of Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after buying an additional 412 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after acquiring an additional 491 shares in the last quarter. Atria Investments Inc boosted its position in shares of Myriad Genetics by 5.4% during the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after acquiring an additional 581 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after purchasing an additional 583 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Myriad Genetics by 9.0% in the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock worth $186,000 after purchasing an additional 720 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

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.