Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Rating of “Hold” from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGNGet Free Report) have received a consensus rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.27.

A number of equities analysts have weighed in on MYGN shares. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $30.00 to $21.00 in a report on Monday, December 9th. Morgan Stanley cut their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Bank of America lowered their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research report on Friday, December 13th. Finally, Piper Sandler reduced their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th.

Check Out Our Latest Research Report on MYGN

Institutional Trading of Myriad Genetics

A number of large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of Myriad Genetics during the third quarter worth approximately $32,000. GAMMA Investing LLC increased 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 purchasing an additional 412 shares during the period. Point72 DIFC Ltd acquired a new position in Myriad Genetics in the second quarter valued at about $60,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Myriad Genetics during the second quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in 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 buying an additional 583 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $13.15 on Thursday. Myriad Genetics has a 1 year low of $12.81 and a 1 year high of $29.30. The stock has a market capitalization of $1.20 billion, a P/E ratio of -10.12 and a beta of 1.89. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $14.98 and a 200-day moving average of $22.10.

Myriad Genetics Company Profile

(Get Free Report

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.

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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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