Brokerages Set Myriad Genetics, Inc. (NASDAQ:MYGN) Price Target at $9.17

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.9375.

MYGN has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Zacks Research upgraded Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a report on Monday, December 29th. UBS Group lowered their price objective on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Finally, Piper Sandler dropped their target price on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th.

Insider Transactions at Myriad Genetics

In other news, Director S. Louise Phanstiel bought 50,407 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was purchased at an average price of $4.80 per share, for a total transaction of $241,953.60. Following the transaction, the director owned 233,951 shares in the company, valued at approximately $1,122,964.80. This trade represents a 27.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 104,507 shares of company stock worth $494,548. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Myriad Genetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in Myriad Genetics by 2,333.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after acquiring an additional 4,480 shares during the period. Quarry LP grew its stake in shares of Myriad Genetics by 155.6% in the fourth quarter. Quarry LP now owns 4,365 shares of the company’s stock worth $27,000 after purchasing an additional 2,657 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Myriad Genetics by 1,088.7% during the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock valued at $30,000 after purchasing an additional 3,745 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Myriad Genetics by 407.3% during the second quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company’s stock valued at $31,000 after purchasing an additional 4,635 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Myriad Genetics by 129.6% in the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock worth $31,000 after purchasing an additional 2,818 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Trading Down 0.2%

NASDAQ:MYGN opened at $5.28 on Monday. The company has a market cap of $493.73 million, a PE ratio of -1.34 and a beta of 1.91. The business’s 50 day moving average is $5.52 and its two-hundred day moving average is $6.58. The company has a quick ratio of 2.26, a current ratio of 2.49 and a debt-to-equity ratio of 0.33. Myriad Genetics has a 52 week low of $3.76 and a 52 week high of $11.44.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $209.80 million for the quarter, compared to analyst estimates of $207.57 million. Myriad Genetics had a negative return on equity of 6.35% and a negative net margin of 44.38%.The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. On average, analysts predict that Myriad Genetics will post -0.3 EPS for the current 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.