Brokerages Set Myriad Genetics, Inc. (NASDAQ:MYGN) Target Price at $23.17

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has been assigned a consensus rating of "Hold" from the six research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $23.17.

Several analysts have commented on MYGN shares. The Goldman Sachs Group raised their price objective 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. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research note on Tuesday, December 19th. They set an "equal weight" rating and a $20.00 target price for the company. Finally, Piper Sandler initiated coverage on shares of Myriad Genetics in a research note on Thursday, December 21st. They set a "neutral" rating and a $23.00 target price for the company.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in Myriad Genetics by 96.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company's stock worth $34,000 after purchasing an additional 1,032 shares during the period. Royal Bank of Canada grew its position in Myriad Genetics by 29.0% in the 3rd quarter. Royal Bank of Canada now owns 2,339 shares of the company's stock worth $44,000 after purchasing an additional 526 shares during the period. Natixis bought a new stake in Myriad Genetics in the 4th quarter worth approximately $44,000. Point72 Hong Kong Ltd grew its position in Myriad Genetics by 722.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company's stock worth $58,000 after purchasing an additional 2,826 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Myriad Genetics by 99.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company's stock worth $62,000 after purchasing an additional 1,326 shares during the period. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Stock Down 1.3 %

MYGN traded down $0.25 on Tuesday, hitting $18.92. The company had a trading volume of 477,102 shares, compared to its average volume of 629,680. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.87. Myriad Genetics has a 52-week low of $13.82 and a 52-week high of $24.21. The stock has a fifty day simple moving average of $21.75 and a 200-day simple moving average of $19.47. The firm has a market capitalization of $1.70 billion, a P/E ratio of -5.91 and a beta of 1.95.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. The business had revenue of $196.60 million during the quarter, compared to analyst estimates of $194.80 million. During the same period last year, the business posted ($0.20) earnings per share. Myriad Genetics's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Myriad Genetics will post -0.36 EPS 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.