Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $14.38 Consensus PT from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has earned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.38.

MYGN has been the topic of several research reports. Wall Street Zen downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. The Goldman Sachs Group decreased their target price on Myriad Genetics from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Guggenheim downgraded Myriad Genetics from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 9th. Scotiabank downgraded Myriad Genetics from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $20.00 to $6.00 in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company downgraded Myriad Genetics from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $6.00 in a research report on Wednesday, May 7th.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in Myriad Genetics by 6.7% during the fourth quarter. Northern Trust Corp now owns 1,032,132 shares of the company’s stock worth $14,151,000 after buying an additional 64,923 shares in the last quarter. Barclays PLC raised its position in Myriad Genetics by 7.3% in the fourth quarter. Barclays PLC now owns 204,051 shares of the company’s stock valued at $2,797,000 after purchasing an additional 13,808 shares during the period. Victory Capital Management Inc. raised its position in Myriad Genetics by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock valued at $841,000 after purchasing an additional 3,711 shares during the period. Man Group plc purchased a new stake in Myriad Genetics in the fourth quarter valued at $390,000. Finally, Vanguard Group Inc. raised its position in Myriad Genetics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock valued at $145,203,000 after purchasing an additional 279,379 shares during the period. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Up 1.2%

Shares of MYGN opened at $4.98 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.71 and a debt-to-equity ratio of 0.08. Myriad Genetics has a 12 month low of $3.81 and a 12 month high of $29.30. The stock’s 50 day moving average is $5.74 and its two-hundred day moving average is $10.05. The firm has a market cap of $459.06 million, a P/E ratio of -4.45 and a beta of 1.84.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Myriad Genetics had a negative return on equity of 4.95% and a negative net margin of 12.20%. The company had revenue of $195.90 million for the quarter, compared to analyst estimates of $200.37 million. During the same period last year, the company earned ($0.01) earnings per share. Myriad Genetics’s quarterly revenue was down 33.6% compared to the same quarter last year. Analysts predict that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.