Analysts Set Myriad Genetics, Inc. (NASDAQ:MYGN) PT at $9.44

Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $9.4444.

A number of research firms have weighed in on MYGN. Piper Sandler reduced their target price on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. TD Cowen restated a “hold” rating on shares of Myriad Genetics in a report on Tuesday, November 4th. UBS Group lifted their price objective on shares of Myriad Genetics from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Myriad Genetics from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th.

Myriad Genetics Trading Up 0.4%

MYGN opened at $5.12 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.12 and a current ratio of 2.33. The stock’s 50 day moving average price is $6.35 and its 200-day moving average price is $6.62. Myriad Genetics has a one year low of $3.76 and a one year high of $15.47. The stock has a market cap of $477.26 million, a price-to-earnings ratio of -1.18 and a beta of 1.90.

Institutional Investors Weigh In On Myriad Genetics

Hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new position in shares of Myriad Genetics during the first quarter valued at $105,000. Royal Bank of Canada grew its holdings in Myriad Genetics by 82.4% during the 1st quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock worth $296,000 after acquiring an additional 15,057 shares in the last quarter. AQR Capital Management LLC increased its position in Myriad Genetics by 278.9% during the 1st quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock valued at $3,844,000 after purchasing an additional 319,007 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Myriad Genetics by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock valued at $2,654,000 after purchasing an additional 14,027 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Myriad Genetics by 1,076.9% in the 1st quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock worth $1,897,000 after purchasing an additional 195,658 shares during the period. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

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.