Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $23.17 Average Target Price from Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.17.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Piper Sandler assumed coverage on Myriad Genetics in a research report on Thursday, December 21st. They set a “neutral” rating and a $23.00 price target on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Myriad Genetics by 0.8% during the first quarter. BlackRock Inc. now owns 14,797,829 shares of the company’s stock valued at $372,906,000 after buying an additional 113,042 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Myriad Genetics by 8.6% during the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock valued at $190,524,000 after buying an additional 789,496 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Myriad Genetics by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after buying an additional 1,223,446 shares during the last quarter. Glenview Capital Management LLC grew its stake in shares of Myriad Genetics by 39.6% during the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after buying an additional 1,500,000 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Myriad Genetics by 14.5% during the second quarter. State Street Corp now owns 4,804,157 shares of the company’s stock valued at $87,292,000 after buying an additional 607,932 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

Myriad Genetics Trading Down 0.7 %

Shares of MYGN stock opened at $18.51 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01. Myriad Genetics has a 52-week low of $13.82 and a 52-week high of $24.21. The company has a market capitalization of $1.66 billion, a PE ratio of -5.78 and a beta of 1.95. The business’s fifty day moving average is $21.61 and its 200 day moving average is $19.46.

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

Myriad Genetics Company Profile

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.