Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Rating of “Hold” from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given an average recommendation of “Hold” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.27.

Several equities research analysts have recently weighed in on MYGN shares. UBS Group began coverage on Myriad Genetics in a research note on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price objective for the company. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Bank of America dropped their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. Finally, Piper Sandler reduced their price target on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, November 11th.

Insider Buying and Selling

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction dated 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 directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently made changes to their positions in MYGN. Franklin Resources Inc. raised its position in Myriad Genetics by 8.8% during the third quarter. Franklin Resources Inc. now owns 58,055 shares of the company’s stock valued at $1,457,000 after acquiring an additional 4,710 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Myriad Genetics by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company’s stock valued at $59,010,000 after purchasing an additional 21,220 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after purchasing an additional 440,107 shares during the last quarter. Barclays PLC boosted its holdings in Myriad Genetics by 136.9% in the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after purchasing an additional 109,931 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in Myriad Genetics by 188.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 38,533 shares of the company’s stock worth $1,055,000 after buying an additional 25,179 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Trading Down 0.6 %

Shares of NASDAQ:MYGN opened at $13.42 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -10.32 and a beta of 1.87. Myriad Genetics has a 1-year low of $12.87 and a 1-year high of $29.30. The company has a 50 day moving average price of $16.67 and a 200 day moving average price of $22.95.

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.