Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $12.45 Consensus Target Price from Brokerages

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $12.4545.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a report on Saturday, September 27th.

Institutional Investors Weigh In On Myriad Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in Myriad Genetics by 3.0% in the first quarter. Jennison Associates LLC now owns 60,811 shares of the company’s stock worth $539,000 after purchasing an additional 1,796 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Myriad Genetics by 8.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,666 shares of the company’s stock worth $126,000 after acquiring an additional 1,881 shares during the period. Legal & General Group Plc boosted its holdings in shares of Myriad Genetics by 1.0% in the second quarter. Legal & General Group Plc now owns 237,688 shares of the company’s stock valued at $1,262,000 after acquiring an additional 2,313 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Myriad Genetics by 41.4% in the second quarter. PNC Financial Services Group Inc. now owns 8,967 shares of the company’s stock valued at $48,000 after acquiring an additional 2,625 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in Myriad Genetics by 1.3% during the first quarter. Natixis Advisors LLC now owns 212,138 shares of the company’s stock worth $1,882,000 after purchasing an additional 2,810 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Trading Up 6.6%

NASDAQ MYGN opened at $8.06 on Friday. The company has a 50-day moving average price of $6.36 and a two-hundred day moving average price of $6.16. Myriad Genetics has a 52 week low of $3.76 and a 52 week high of $27.03. The stock has a market cap of $749.94 million, a price-to-earnings ratio of -1.88 and a beta of 1.97.

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.