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

Myriad Genetics logo with Medical background

Key Points

  • Analysts have assigned Myriad Genetics a consensus rating of "Hold", with two sell recommendations, ten holds, and four buys among sixteen analysts covering the stock.
  • The average 1-year price target for Myriad Genetics is $14.38, although recent reports have seen various brokerages significantly lower their target prices.
  • Myriad Genetics reported a quarterly EPS of ($0.03), surpassing analyst expectations, but its revenue experienced a 33.6% decline year-over-year, totaling $195.90 million.
  • Interested in Myriad Genetics? Here are five stocks we like better.

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has been assigned an average rating of "Hold" from the sixteen analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.38.

MYGN has been the subject of several research analyst reports. Wells Fargo & Company cut shares of Myriad Genetics from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $22.00 to $6.00 in a research report on Wednesday, May 7th. Raymond James Financial restated an "outperform" rating and set a $10.00 target price (down previously from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th. Piper Sandler cut their price target on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Craig Hallum set a $18.00 price objective on Myriad Genetics and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group cut their target price on shares of Myriad Genetics from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th.

View Our Latest Analysis on Myriad Genetics

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN opened at $3.91 on Monday. The business has a fifty day moving average of $4.89 and a 200-day moving average of $7.87. 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 twelve month low of $3.76 and a twelve month high of $29.30. The firm has a market cap of $360.42 million, a PE ratio of -3.49 and a beta of 1.89.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Myriad Genetics had a negative net margin of 12.20% and a negative return on equity of 4.95%. The firm had revenue of $195.90 million for the quarter, compared to analyst estimates of $200.37 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company's revenue was down 33.6% on a year-over-year basis. On average, equities research analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in Myriad Genetics by 6,192.9% in 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 period. Nisa Investment Advisors LLC lifted its holdings in shares of Myriad Genetics by 407.3% in the second quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company's stock valued at $31,000 after purchasing an additional 4,635 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after buying an additional 2,556 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 period. Finally, Pallas Capital Advisors LLC bought a new position in shares of Myriad Genetics during the second quarter worth about $57,000. 99.02% of the stock is currently owned by institutional investors.

About Myriad Genetics

(Get Free Report

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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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