Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Recommendation of "Hold" from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has earned an average rating of "Hold" from the sixteen research firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.61.

Several equities research analysts have weighed in on MYGN shares. Guggenheim downgraded Myriad Genetics from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Stephens reaffirmed an "equal weight" rating and issued a $20.00 price target on shares of Myriad Genetics in a report on Thursday, January 16th. StockNews.com upgraded Myriad Genetics from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. Bank of America decreased their price target on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group cut their target price on shares of Myriad Genetics from $18.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, April 17th.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN traded up $0.19 during trading on Friday, hitting $7.39. The company's stock had a trading volume of 1,560,130 shares, compared to its average volume of 954,447. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics has a 12 month low of $7.09 and a 12 month high of $29.30. The firm has a market cap of $681.14 million, a price-to-earnings ratio of -5.68 and a beta of 1.87. The company has a 50-day moving average of $9.24 and a 200-day moving average of $13.46.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million during the quarter, compared to analysts' expectations of $210.35 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. On average, sell-side analysts expect that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Myriad Genetics

A number of hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Myriad Genetics by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 453,251 shares of the company's stock valued at $4,020,000 after purchasing an additional 11,864 shares during the last quarter. Blue Trust Inc. raised its position in shares of Myriad Genetics by 57.0% during the 1st quarter. Blue Trust Inc. now owns 14,367 shares of the company's stock valued at $127,000 after buying an additional 5,214 shares during the period. M.E. Allison & CO. Inc. purchased a new position in Myriad Genetics in the first quarter worth approximately $93,000. GAMMA Investing LLC raised its position in Myriad Genetics by 520.8% in the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock valued at $40,000 after purchasing an additional 3,750 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Myriad Genetics by 43.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,229 shares of the company's stock valued at $3,910,000 after purchasing an additional 86,973 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

About Myriad Genetics

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.