Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $10.50 Average Price Target from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus rating of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.50.

A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Wells Fargo & Company lifted their price target on shares of Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday. Piper Sandler cut their target price on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Cowen reaffirmed a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th.

Hedge Funds Weigh In On Myriad Genetics

A number of institutional investors and hedge funds have recently bought and sold shares of MYGN. Jacobs Levy Equity Management Inc. raised its position in Myriad Genetics by 157.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock valued at $17,662,000 after purchasing an additional 1,492,405 shares during the last quarter. Sender Co & Partners Inc. acquired a new position in shares of Myriad Genetics in the third quarter valued at approximately $125,000. Voleon Capital Management LP increased its stake in shares of Myriad Genetics by 66.9% in the third quarter. Voleon Capital Management LP now owns 114,526 shares of the company’s stock valued at $828,000 after buying an additional 45,898 shares during the period. Verition Fund Management LLC raised its holdings in Myriad Genetics by 368.2% in the 3rd quarter. Verition Fund Management LLC now owns 129,521 shares of the company’s stock valued at $936,000 after buying an additional 101,857 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in Myriad Genetics during the 3rd quarter worth approximately $4,338,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Trading Down 2.2%

Shares of MYGN stock opened at $6.55 on Wednesday. The stock’s fifty day moving average price is $7.29 and its two-hundred day moving average price is $6.39. The company has a market cap of $610.53 million, a PE ratio of -1.51 and a beta of 1.81. Myriad Genetics has a fifty-two week low of $3.76 and a fifty-two week high of $15.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.12 and a current ratio of 2.33.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, January 16th. The company reported ($0.19) EPS for the quarter. Myriad Genetics had a negative return on equity of 7.11% and a negative net margin of 48.53%.The business had revenue of $156.40 million for the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. Equities analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.