Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $25.33 Consensus Target Price from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has received a consensus recommendation of “Hold” from the ten analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.33.

Several research analysts have recently issued reports on MYGN shares. Scotiabank started coverage on Myriad Genetics in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $29.00 price target for the company. Leerink Partnrs raised Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. Piper Sandler boosted their target price on shares of Myriad Genetics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Jefferies Financial Group reissued an “underperform” rating and issued a $20.00 target price (down previously from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Finally, SVB Leerink raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $35.00 in a research note on Wednesday, May 8th.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Paul J. Diaz sold 75,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $25.07, for a total transaction of $1,880,250.00. Following the completion of the sale, the chief executive officer now owns 1,066,166 shares in the company, valued at approximately $26,728,781.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Paul J. Diaz sold 75,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $25.07, for a total transaction of $1,880,250.00. Following the completion of the sale, the chief executive officer now owns 1,066,166 shares in the company, valued at approximately $26,728,781.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel K. Spiegelman sold 3,788 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $22.04, for a total value of $83,487.52. Following the sale, the director now owns 36,705 shares of the company’s stock, valued at approximately $808,978.20. The disclosure for this sale can be found here. Insiders sold 142,832 shares of company stock worth $3,574,217 in the last 90 days. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Myriad Genetics

Several hedge funds and other institutional investors have recently bought and sold shares of MYGN. Deutsche Bank AG lifted its position in Myriad Genetics by 6.8% during the 3rd quarter. Deutsche Bank AG now owns 41,428 shares of the company’s stock worth $665,000 after acquiring an additional 2,622 shares in the last quarter. Rhumbline Advisers raised its position in shares of Myriad Genetics by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 269,307 shares of the company’s stock valued at $4,320,000 after purchasing an additional 1,313 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Myriad Genetics by 80.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 221,175 shares of the company’s stock valued at $3,548,000 after purchasing an additional 98,744 shares in the last quarter. Invesco Ltd. raised its position in shares of Myriad Genetics by 6.7% in the 3rd quarter. Invesco Ltd. now owns 757,576 shares of the company’s stock valued at $12,152,000 after purchasing an additional 47,620 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Myriad Genetics by 609.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 131,553 shares of the company’s stock valued at $2,110,000 after purchasing an additional 113,000 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $24.76 on Friday. The firm’s fifty day moving average price is $22.87 and its 200 day moving average price is $21.66. Myriad Genetics has a 1-year low of $13.82 and a 1-year high of $25.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.99 and a quick ratio of 1.82. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -8.78 and a beta of 1.95.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. The company had revenue of $202.20 million during the quarter, compared to the consensus estimate of $193.51 million. During the same quarter last year, the company earned ($0.28) earnings per share. Myriad Genetics’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Myriad Genetics will post -0.36 EPS for the current 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.