Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $28.91 Average Target Price from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been assigned an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $28.91.

A number of brokerages have issued reports on MYGN. TD Cowen increased their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Morgan Stanley began coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares in the company, valued at approximately $22,067,327.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now directly owns 121,648 shares in the company, valued at approximately $3,290,578.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the transaction, the chief executive officer now owns 962,378 shares in the company, valued at $22,067,327.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,012 shares of company stock worth $1,900,485. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MYGN. Vanguard Group Inc. boosted its holdings in Myriad Genetics by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock worth $213,961,000 after acquiring an additional 81,475 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Myriad Genetics by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock worth $99,602,000 after purchasing an additional 138,960 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Myriad Genetics by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock valued at $67,924,000 after purchasing an additional 75,445 shares during the period. Sei Investments Co. increased its stake in Myriad Genetics by 5.4% during the 2nd quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock valued at $59,125,000 after purchasing an additional 124,007 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Myriad Genetics by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,087,328 shares of the company’s stock worth $51,056,000 after buying an additional 10,035 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN opened at $17.83 on Friday. Myriad Genetics has a 12-month low of $15.99 and a 12-month high of $29.30. The company’s 50 day moving average price is $25.57 and its two-hundred day moving average price is $24.81. The firm has a market cap of $1.62 billion, a PE ratio of -9.85 and a beta of 1.93. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) EPS. Equities research analysts predict that Myriad Genetics will post -0.35 earnings per share 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.