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

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has been assigned an average recommendation of "Hold" from the sixteen analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.38.

A number of research analysts recently commented on the company. Guggenheim lowered Myriad Genetics from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on shares of Myriad Genetics from $14.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Scotiabank cut Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $20.00 to $6.00 in a report on Wednesday, May 21st. Finally, Wall Street Zen downgraded Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th.

Hedge Funds Weigh In On Myriad Genetics

A number of large investors have recently modified their holdings of MYGN. Farther Finance Advisors LLC increased its position in shares of Myriad Genetics by 6,192.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company's stock worth $28,000 after purchasing an additional 5,264 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock valued at $39,000 after buying an additional 2,556 shares in the last quarter. GAMMA Investing LLC increased its holdings in Myriad Genetics by 520.8% during the first 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 stake in Myriad Genetics during the second quarter worth $57,000. Finally, State of Wyoming lifted its stake in Myriad Genetics by 147.0% in the first quarter. State of Wyoming now owns 8,641 shares of the company's stock valued at $77,000 after acquiring an additional 5,143 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Performance

Shares of MYGN traded down $0.16 during mid-day trading on Thursday, hitting $5.34. The company's stock had a trading volume of 888,124 shares, compared to its average volume of 1,268,151. The stock's 50-day moving average is $4.90 and its two-hundred day moving average is $8.92. The firm has a market capitalization of $492.24 million, a PE ratio of -4.77 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 one year low of $3.81 and a one year high of $29.30.

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

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.