Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $10.50 Consensus Target Price from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given an average recommendation of “Hold” by the fourteen brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $10.50.

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday. TD Cowen increased their price target on Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Cowen restated a “hold” rating on shares of Myriad Genetics in a report on Tuesday, November 4th. Finally, UBS Group boosted their price target on Myriad Genetics from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN opened at $6.56 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 2.12 and a debt-to-equity ratio of 0.32. The company has a market cap of $611.46 million, a price-to-earnings ratio of -1.52 and a beta of 1.81. Myriad Genetics has a 12 month low of $3.76 and a 12 month high of $15.47. The company has a 50-day moving average price of $7.25 and a 200-day moving average price of $6.43.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, January 16th. The company reported ($0.19) EPS for the quarter. The company had revenue of $156.40 million during the quarter. Myriad Genetics had a negative return on equity of 7.11% and a negative net margin of 48.53%.Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. As a group, equities analysts anticipate that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Trading of Myriad Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in MYGN. Jacobs Levy Equity Management Inc. raised its holdings in Myriad Genetics by 157.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock valued at $17,662,000 after acquiring an additional 1,492,405 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in shares of Myriad Genetics in the 3rd quarter worth approximately $125,000. Voleon Capital Management LP increased its holdings in Myriad Genetics by 66.9% during the 3rd quarter. Voleon Capital Management LP now owns 114,526 shares of the company’s stock valued at $828,000 after acquiring an additional 45,898 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Myriad Genetics by 368.2% during the third quarter. Verition Fund Management LLC now owns 129,521 shares of the company’s stock worth $936,000 after buying an additional 101,857 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new stake in shares of Myriad Genetics during the 3rd quarter valued at $4,338,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

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.