Brokerages Set Myriad Genetics, Inc. (NASDAQ:MYGN) PT at $24.27

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given an average rating of “Hold” by the twelve research firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $24.27.

Several research analysts recently issued reports on the company. Bank of America dropped their price objective on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research note on Friday, December 13th. Morgan Stanley cut their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company started coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective for the company. Piper Sandler cut their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, UBS Group began coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company.

Insider Buying and Selling at Myriad Genetics

In related news, CEO Paul J. Diaz sold 15,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D acquired a new stake in shares of Myriad Genetics during the third quarter worth $1,965,000. Legato Capital Management LLC acquired a new stake in Myriad Genetics during the 2nd quarter worth about $1,123,000. Maven Securities LTD purchased a new stake in Myriad Genetics during the 2nd quarter valued at about $1,223,000. Simplify Asset Management Inc. acquired a new position in shares of Myriad Genetics in the third quarter valued at about $4,756,000. Finally, Sei Investments Co. increased its holdings in shares of Myriad Genetics by 5.4% in the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock valued at $59,125,000 after purchasing an additional 124,007 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $13.74 on Friday. The company has a market capitalization of $1.25 billion, a P/E ratio of -10.57 and a beta of 1.88. The company’s 50-day simple moving average is $17.27 and its two-hundred day simple moving average is $23.14. Myriad Genetics has a one year low of $12.87 and a one year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

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.