Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $8.94 Average PT from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus rating of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.9375.

MYGN has been the topic of a number of analyst reports. Zacks Research upgraded shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company cut their price target on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th. UBS Group decreased their price objective on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a report on Monday, December 29th.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $4.28 on Friday. The company has a current ratio of 2.49, a quick ratio of 2.26 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $6.40. Myriad Genetics has a 12 month low of $3.76 and a 12 month high of $9.43. The firm has a market capitalization of $400.22 million, a PE ratio of -1.09 and a beta of 1.91.

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

Insider Buying and Selling at Myriad Genetics

In other news, Director S. Louise Phanstiel acquired 48,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $4.66 per share, with a total value of $223,680.00. Following the acquisition, the director directly owned 281,951 shares of the company’s stock, valued at $1,313,891.66. The trade was a 20.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samraat S. Raha bought 40,000 shares of Myriad Genetics stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of $5.00 per share, with a total value of $200,000.00. Following the purchase, the chief executive officer owned 493,104 shares in the company, valued at approximately $2,465,520. This represents a 8.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 144,507 shares of company stock valued at $694,548 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Baird Financial Group Inc. bought a new stake in Myriad Genetics in the 1st quarter worth about $105,000. Royal Bank of Canada increased its stake in Myriad Genetics by 82.4% in the 1st quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock valued at $296,000 after buying an additional 15,057 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Myriad Genetics by 278.9% during the 1st quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock worth $3,844,000 after buying an additional 319,007 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Myriad Genetics by 4.9% during 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 worth $2,654,000 after buying an additional 14,027 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake 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 buying an additional 195,658 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

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.