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

Key Points

• Analyst consensus: Myriad Genetics carries an average rating of Hold from 11 analysts (1 sell, 6 hold, 4 buy) with a 12‑month average price target of about $8.94.
• Insider buying: CEO Samraat Raha bought 40,000 shares at $5.00 and director S. Louise Phanstiel bought 50,407 shares at $4.80; insiders purchased 144,507 shares (~$694,548) last quarter and now own about 2.10% of the stock.
• Recent results and stock metrics: The company reported $0.04 EPS (beating a -$0.02 estimate) on $209.8M revenue but still shows negative net margin and ROE; shares traded around $5.14 with a market cap of ~$485M and a 52‑week range of $3.76–$8.59.

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) have earned an average rating of "Hold" from the eleven research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.9375.

A number of research analysts recently issued reports on MYGN shares. Wells Fargo & Company decreased their target price on Myriad Genetics from $6.50 to $6.00 and set an "equal weight" rating for the company in a report on Tuesday, February 24th. Zacks Research upgraded Myriad Genetics from a "strong sell" rating to a "hold" rating in a report on Thursday, February 26th. UBS Group decreased their target price on Myriad Genetics from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, February 24th. TD Cowen upgraded Myriad Genetics to a "hold" rating in a report on Monday, April 13th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Myriad Genetics in a report on Friday, March 27th.

Insiders Place Their Bets

In other Myriad Genetics news, CEO Samraat S. Raha purchased 40,000 shares of the business's stock in a transaction on Monday, March 9th. The shares were bought at an average cost of $5.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the chief executive officer directly owned 493,104 shares in the company, valued at approximately $2,465,520. This represents a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director S. Louise Phanstiel purchased 50,407 shares of the business's stock in a transaction on Thursday, February 26th. The stock was acquired at an average price of $4.80 per share, for a total transaction of $241,953.60. Following the completion of the purchase, the director owned 233,951 shares of the company's stock, valued at $1,122,964.80. This represents a 27.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 144,507 shares of company stock valued at $694,548. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Myriad Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its stake in Myriad Genetics by 1,088.7% in the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company's stock valued at $30,000 after buying an additional 3,745 shares in the last quarter. Quarry LP raised its stake in Myriad Genetics by 155.6% in the fourth quarter. Quarry LP now owns 4,365 shares of the company's stock valued at $27,000 after buying an additional 2,657 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Myriad Genetics by 2,333.3% in the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company's stock valued at $25,000 after buying an additional 4,480 shares in the last quarter. Royal Bank of Canada raised its stake in Myriad Genetics by 129.6% in the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company's stock valued at $31,000 after buying an additional 2,818 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Myriad Genetics in the second quarter valued at $37,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Trading Up 1.2%

MYGN opened at $5.14 on Tuesday. Myriad Genetics has a 52 week low of $3.76 and a 52 week high of $8.59. The business has a fifty day simple moving average of $4.73 and a 200-day simple moving average of $6.08. The firm has a market cap of $485.42 million, a P/E ratio of -1.30 and a beta of 1.86. The company has a quick ratio of 2.26, a current ratio of 2.49 and a debt-to-equity ratio of 0.33.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The business had revenue of $209.80 million during the quarter, compared to analyst estimates of $207.57 million. Myriad Genetics had a negative return on equity of 6.35% and a negative net margin of 44.38%.The company's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.03 earnings per share. On average, equities analysts expect that Myriad Genetics will post -0.39 earnings per share for the current year.

Myriad Genetics Company Profile

Myriad Genetics NASDAQ: MYGN is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual's risk for various hereditary conditions and to guide personalized treatment decisions. The company's core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women's health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.

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