Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Consensus Recommendation of “Hold” from Brokerages

Myriad Genetics, Inc. (NASDAQ:MYGN) has received a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $15.79.

A number of equities analysts recently issued reports on the stock. Wolfe Research cut shares of Myriad Genetics from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 8th. Guggenheim cut shares of Myriad Genetics from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 9th. Piper Sandler lowered their target price on shares of Myriad Genetics from $12.50 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Scotiabank lowered their target price on shares of Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 1st. Finally, StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th.

Myriad Genetics Stock Up 0.5%

NASDAQ:MYGN opened at $4.45 on Wednesday. The company has a market capitalization of $410.19 million, a PE ratio of -3.42 and a beta of 2.01. The firm’s 50-day moving average price is $7.52 and its 200-day moving average price is $11.66. Myriad Genetics has a 1-year low of $3.81 and a 1-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.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $195.90 million for the quarter, compared to analysts’ expectations of $200.37 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. Myriad Genetics’s revenue was down 33.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. On average, equities analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors have recently made changes to their positions in the business. Jennison Associates LLC lifted its stake in shares of Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock worth $809,000 after purchasing an additional 34,853 shares during the period. Northern Trust Corp lifted its stake in shares of Myriad Genetics by 6.7% in the 4th quarter. Northern Trust Corp now owns 1,032,132 shares of the company’s stock worth $14,151,000 after purchasing an additional 64,923 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Myriad Genetics by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock worth $841,000 after purchasing an additional 3,711 shares during the period. Barclays PLC lifted its stake in shares of Myriad Genetics by 7.3% in the 4th quarter. Barclays PLC now owns 204,051 shares of the company’s stock worth $2,797,000 after purchasing an additional 13,808 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Myriad Genetics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock worth $145,203,000 after acquiring an additional 279,379 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

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.