Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $14.38 Consensus Price Target from Brokerages

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

A number of analysts have issued reports on the company. Piper Sandler decreased their target price on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. The Goldman Sachs Group cut their price target on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. UBS Group cut their price target on Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Bank of America cut their price target on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company lowered Myriad Genetics from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $22.00 to $6.00 in a report on Wednesday, May 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in shares of Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after purchasing an additional 2,556 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Myriad Genetics by 520.8% in the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after purchasing an additional 3,750 shares in the last quarter. State of Wyoming boosted its position in shares of Myriad Genetics by 147.0% in the 1st quarter. State of Wyoming now owns 8,641 shares of the company's stock worth $77,000 after purchasing an additional 5,143 shares in the last quarter. CWM LLC boosted its position in shares of Myriad Genetics by 600.2% in the 1st quarter. CWM LLC now owns 9,796 shares of the company's stock worth $87,000 after purchasing an additional 8,397 shares in the last quarter. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Myriad Genetics in the 1st quarter worth approximately $93,000. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Stock Performance

Shares of MYGN traded up $0.09 on Friday, reaching $5.07. 1,987,158 shares of the company's stock traded hands, compared to its average volume of 1,241,457. The company has a current ratio of 1.90, a quick ratio of 1.71 and a debt-to-equity ratio of 0.08. The stock has a market cap of $467.35 million, a PE ratio of -4.53 and a beta of 1.84. The stock's 50 day simple moving average is $5.67 and its two-hundred day simple moving average is $10.01. Myriad Genetics has a 52-week low of $3.81 and a 52-week 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) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $195.90 million during 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%. Myriad Genetics's revenue was down 33.6% on a year-over-year basis. During the same period last year, the business posted ($0.01) earnings per share. On average, analysts forecast that Myriad Genetics will post -0.3 earnings per share for the current fiscal 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.