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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) have been assigned an average recommendation of "Hold" from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research 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 twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.38.

Several research firms recently issued reports on MYGN. Wolfe Research cut shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. UBS Group decreased their price target on shares of Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Piper Sandler dropped their price objective on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $10.00 target price (down from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th.

Myriad Genetics Stock Up 3.1%

Shares of NASDAQ MYGN opened at $5.72 on Thursday. The firm has a market cap of $527.27 million, a P/E ratio of -5.11 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 has a 1 year low of $3.81 and a 1 year high of $29.30. The firm's 50 day moving average price is $4.98 and its 200 day moving average price is $9.03.

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

Institutional Investors Weigh In On Myriad Genetics

A number of large investors have recently modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Myriad Genetics during the first quarter worth $10,437,000. D. E. Shaw & Co. Inc. grew its holdings in Myriad Genetics by 58.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company's stock valued at $24,950,000 after purchasing an additional 668,429 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Myriad Genetics by 377.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company's stock worth $7,533,000 after buying an additional 434,420 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Myriad Genetics by 13.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company's stock worth $37,932,000 after buying an additional 336,770 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Myriad Genetics by 87.4% in the 4th quarter. Renaissance Technologies LLC now owns 684,874 shares of the company's stock worth $9,390,000 after buying an additional 319,500 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company's stock.

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.

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