Brokerages Set Myriad Genetics, Inc. (NASDAQ:MYGN) Price Target at $14.38

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has been assigned an average rating of "Hold" from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.38.

A number of equities analysts have recently commented on the company. Guggenheim downgraded Myriad Genetics from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Wall Street Zen downgraded Myriad Genetics from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group cut their price objective on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Craig Hallum set a $18.00 price objective on Myriad Genetics and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company downgraded Myriad Genetics from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $22.00 to $6.00 in a report on Wednesday, May 7th.

Myriad Genetics Trading Down 3.8%

NASDAQ MYGN traded down $0.22 during trading hours on Thursday, hitting $5.50. 1,381,830 shares of the company's stock were exchanged, compared to its average volume of 1,264,550. The business's 50 day moving average is $4.98 and its 200-day moving average is $9.03. Myriad Genetics has a 12-month low of $3.81 and a 12-month high of $29.30. The firm has a market capitalization of $506.99 million, a P/E ratio of -4.91 and a beta of 1.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.71 and a current ratio of 1.90.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $195.90 million for the quarter, compared to the consensus estimate of $200.37 million. Myriad Genetics had a negative return on equity of 4.95% and a negative net margin of 12.20%. The firm's revenue for the quarter was down 33.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, analysts anticipate that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MYGN. Sterling Capital Management LLC boosted its position in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock valued at $39,000 after purchasing an additional 2,556 shares during the period. GAMMA Investing LLC grew its stake in 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 buying an additional 3,750 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Myriad Genetics during the 2nd quarter worth $57,000. State of Wyoming grew its stake in Myriad Genetics by 147.0% during the 1st quarter. State of Wyoming now owns 8,641 shares of the company's stock worth $77,000 after buying an additional 5,143 shares during the last quarter. Finally, CWM LLC grew its stake in Myriad Genetics by 600.2% during the 1st quarter. CWM LLC now owns 9,796 shares of the company's stock worth $87,000 after buying an additional 8,397 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

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.