Myriad Genetics (NASDAQ:MYGN) Stock Gets Price Target Increase from Stephens

Myriad Genetics (NASDAQ:MYGN) had its target price lifted by stock analysts at Stephens from $3.00 to $6.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens‘s target price points to a potential upside of 4.90% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. Piper Sandler raised shares of Myriad Genetics from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Tuesday, October 20th. Wall Street Zen upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Craig Hallum upped their price target on Myriad Genetics from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Finally, Zacks Research upgraded Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.98.

Myriad Genetics Trading Up 0.9%

Shares of MYGN stock opened at $5.72 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.98 and a quick ratio of 1.77. The company has a market cap of $548.66 million, a price-to-earnings ratio of -4.21 and a beta of 1.62. The stock has a 50 day simple moving average of $4.65 and a 200-day simple moving average of $4.62. Myriad Genetics has a 1-year low of $2.74 and a 1-year high of $8.09.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Wednesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. Myriad Genetics had a negative return on equity of 19.87% and a negative net margin of 16.07%. The firm had revenue of $202.70 million for the quarter, compared to analyst estimates of $191.33 million. On average, equities research analysts expect that Myriad Genetics will post -0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MYGN. Allworth Financial LP acquired a new stake in Myriad Genetics during the second quarter worth $25,000. Pinnacle Associates Ltd. acquired a new position in shares of Myriad Genetics in the 3rd quarter valued at $44,000. Integrated Wealth Concepts LLC purchased a new position in shares of Myriad Genetics during the 2nd quarter worth $54,000. Hsbc Holdings PLC acquired a new stake in shares of Myriad Genetics during the 2nd quarter worth about $61,000. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of Myriad Genetics during the 2nd quarter worth about $67,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Company Profile

Myriad Genetics, Inc. is a molecular diagnostics company that develops and provides genetic tests to help inform healthcare decisions. Its offerings include tests for hereditary cancer risk, tumor biology and prognosis, reproductive health, and how patients may respond to certain medications. Its products include MyRisk, which assesses inherited cancer risk; GeneSight, a pharmacogenomic test intended to help guide psychiatric medication decisions; and Prolaris, which helps assess the aggressiveness of prostate cancer.