Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Consensus Recommendation of “Hold” from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has received an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.4444.

MYGN has been the topic of a number of analyst reports. TD Cowen reaffirmed a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. UBS Group raised their target price on Myriad Genetics from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Wells Fargo & Company raised their price objective on Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Finally, Piper Sandler reduced their price objective on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research report on Tuesday, November 11th.

Myriad Genetics Stock Down 0.9%

Shares of MYGN opened at $5.29 on Thursday. Myriad Genetics has a 52 week low of $3.76 and a 52 week high of $15.47. The company has a quick ratio of 2.12, a current ratio of 2.33 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $493.08 million, a price-to-earnings ratio of -1.22 and a beta of 1.90. The stock’s 50-day moving average price is $6.44 and its 200-day moving average price is $6.61.

Institutional Investors Weigh In On Myriad Genetics

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Myriad Genetics by 2,333.3% in the second 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 in the last quarter. Farther Finance Advisors LLC increased its position in shares of Myriad Genetics by 6,192.9% during the second quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company’s stock worth $28,000 after purchasing an additional 5,264 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Myriad Genetics by 1,088.7% in the 3rd 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 last quarter. Nisa Investment Advisors LLC lifted its holdings in Myriad Genetics by 407.3% in the 2nd 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, Raymond James Financial Inc. acquired a new stake in Myriad Genetics during the 2nd quarter worth $37,000. 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.