Myriad Genetics (NASDAQ:MYGN) Reaches New 12-Month High at $24.92

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.92 and last traded at $24.45, with a volume of 103568 shares trading hands. The stock had previously closed at $23.95.

Analysts Set New Price Targets

A number of analysts recently issued reports on MYGN shares. The Goldman Sachs Group increased their price target on shares of Myriad Genetics from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, January 29th. SVB Leerink upgraded Myriad Genetics from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $25.00 to $35.00 in a research note on Wednesday. Finally, Leerink Partnrs upgraded Myriad Genetics from a "market perform" rating to an "outperform" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Myriad Genetics currently has a consensus rating of "Hold" and an average target price of $24.86.

Myriad Genetics Trading Up 5.4 %

The company has a fifty day moving average of $20.73 and a 200-day moving average of $19.94. The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -7.89 and a beta of 1.96.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.09. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The business had revenue of $202.20 million for the quarter, compared to the consensus estimate of $193.51 million. During the same quarter last year, the business posted ($0.28) earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MYGN. China Universal Asset Management Co. Ltd. boosted its position in Myriad Genetics by 96.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company's stock worth $34,000 after acquiring an additional 1,032 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Myriad Genetics by 21.4% during the 4th quarter. Blue Trust Inc. now owns 6,729 shares of the company's stock worth $129,000 after purchasing an additional 1,186 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Myriad Genetics by 90.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company's stock worth $188,000 after purchasing an additional 4,193 shares during the last quarter. Clarus Wealth Advisors purchased a new stake in shares of Myriad Genetics in the fourth quarter valued at approximately $204,000. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Myriad Genetics by 8.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 15,519 shares of the company's stock valued at $297,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company's stock.

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.