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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have received an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $6.40.

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Zacks Research upgraded Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research report on Friday, March 27th. TD Cowen dropped their target price on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Finally, UBS Group decreased their price target on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th.

Myriad Genetics Price Performance

MYGN stock opened at $3.58 on Friday. Myriad Genetics has a 1 year low of $3.57 and a 1 year high of $8.59. The company has a market cap of $338.12 million, a P/E ratio of -0.83 and a beta of 1.81. The firm has a 50-day moving average of $4.65 and a 200 day moving average of $5.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.40 and a quick ratio of 2.19.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. The firm had revenue of $200.40 million for the quarter, compared to the consensus estimate of $202.42 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Myriad Genetics will post -0.26 EPS for the current year.

Insider Buying and Selling at Myriad Genetics

In related news, Director Paul Bisaro purchased 7,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $3.69 per share, with a total value of $27,675.00. Following the transaction, the director directly owned 97,441 shares in the company, valued at $359,557.29. This trade represents a 8.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director S. Louise Phanstiel purchased 50,407 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was bought at an average price of $4.80 per share, for a total transaction of $241,953.60. Following the purchase, the director directly owned 233,951 shares in the company, valued at $1,122,964.80. The trade was a 27.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 152,007 shares of company stock valued at $722,223. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Myriad Genetics

Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Myriad Genetics by 2,333.3% in the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after buying an additional 4,480 shares during the last quarter. Quarry LP grew its holdings in shares of Myriad Genetics by 155.6% during the fourth quarter. Quarry LP now owns 4,365 shares of the company’s stock valued at $27,000 after buying an additional 2,657 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Myriad Genetics by 1,088.7% during the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock valued at $30,000 after acquiring an additional 3,745 shares in the last quarter. Royal Bank of Canada increased its position in shares of Myriad Genetics by 129.6% during the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock valued at $31,000 after acquiring an additional 2,818 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Myriad Genetics in the 2nd quarter worth approximately $37,000. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.