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

Myriad Genetics, Inc. (NASDAQ:MYGN) has received a consensus recommendation of “Hold” from the fourteen analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $10.50.

MYGN has been the topic of several recent research reports. UBS Group boosted their price target on Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday, December 29th. Piper Sandler decreased their target price on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Cowen reaffirmed a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th. Finally, TD Cowen boosted their price objective 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.

Myriad Genetics Trading Down 5.6%

Shares of MYGN opened at $6.20 on Friday. Myriad Genetics has a 12 month low of $3.76 and a 12 month high of $15.47. The stock’s 50-day moving average is $6.79 and its two-hundred day moving average is $6.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 2.12. The stock has a market cap of $577.93 million, a PE ratio of -1.43 and a beta of 1.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. increased its holdings in Myriad Genetics by 1,088.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock worth $30,000 after purchasing an additional 3,745 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after buying an additional 4,480 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Myriad Genetics by 6,192.9% in the second quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company’s stock worth $28,000 after buying an additional 5,264 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Myriad Genetics by 407.3% in the second quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company’s stock valued at $31,000 after acquiring an additional 4,635 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Myriad Genetics during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

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.