Myriad Genetics, Inc. (NASDAQ:MYGN) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Myriad Genetics, Inc. (NASDAQ:MYGN) has received a consensus rating of "Hold" from fifteen research firms, with two sell ratings, nine holds, and four buy ratings.
• The current average 1-year price target for Myriad Genetics is $12.45, reflecting moderate optimism from analysts.
• Recent trading activity shows Myriad's stock hit $8.06, with a notable 12-month high of $27.03, indicating substantial volatility in its valuation.

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has been given an average rating of "Hold" by the fifteen research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $12.4545.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Myriad Genetics in a research note on Saturday, September 27th.

Hedge Funds Weigh In On Myriad Genetics

A number of large investors have recently added to or reduced their stakes in MYGN. EverSource Wealth Advisors LLC lifted its holdings in Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company's stock valued at $25,000 after purchasing an additional 4,480 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Myriad Genetics by 6,192.9% in the second quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company's stock valued at $28,000 after buying an additional 5,264 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Myriad Genetics by 407.3% during the second quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company's stock worth $31,000 after acquiring an additional 4,635 shares during the last quarter. Raymond James Financial Inc. bought a new position in Myriad Genetics during the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC boosted its stake in shares of Myriad Genetics by 520.8% during the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after acquiring an additional 3,750 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Stock Performance

NASDAQ MYGN traded up $0.50 during trading hours on Friday, hitting $8.06. 1,335,425 shares of the company's stock were exchanged, compared to its average volume of 1,550,836. Myriad Genetics has a 12-month low of $3.76 and a 12-month high of $27.03. The business's 50 day moving average is $6.36 and its 200-day moving average is $6.21. The firm has a market capitalization of $749.90 million, a P/E ratio of -1.88 and a beta of 1.97.

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.

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