Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $11.45 Consensus Target Price from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has received an average rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.4545.

Several research analysts recently weighed in on the company. TD Cowen increased their target price on Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Wells Fargo & Company upped their price target on Myriad Genetics from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. UBS Group raised their price objective on Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a report on Monday, November 17th. Finally, Cowen restated a “hold” rating on shares of Myriad Genetics in a report on Tuesday, November 4th.

Hedge Funds Weigh In On Myriad Genetics

Several hedge funds and other institutional investors have recently made changes to their positions in MYGN. Inspire Investing LLC boosted its position in shares of Myriad Genetics by 93.3% in the second quarter. Inspire Investing LLC now owns 84,520 shares of the company’s stock worth $449,000 after buying an additional 40,793 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Myriad Genetics during the 1st quarter valued at about $531,000. Graham Capital Management L.P. acquired a new position in Myriad Genetics during the 1st quarter worth approximately $633,000. Nordea Investment Management AB boosted its holdings in Myriad Genetics by 19.5% in the 2nd quarter. Nordea Investment Management AB now owns 402,910 shares of the company’s stock worth $2,152,000 after acquiring an additional 65,781 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Myriad Genetics in the 2nd quarter worth approximately $869,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $7.73 on Friday. The firm’s 50-day simple moving average is $7.47 and its 200-day simple moving average is $6.01. Myriad Genetics has a 1-year low of $3.76 and a 1-year high of $16.83. The firm has a market cap of $720.54 million, a P/E ratio of -1.81 and a beta of 1.99.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share (EPS) for the quarter. The company had revenue of $156.40 million during the quarter. Myriad Genetics had a negative net margin of 47.45% and a negative return on equity of 5.17%. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. Analysts expect that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

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.