Myriad Genetics, Inc. (NASDAQ:MYGN) Receives $24.27 Consensus Target Price from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Three investment 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 twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.27.

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

Insider Buying and Selling at Myriad Genetics

In other news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Myriad Genetics

A number of hedge funds and other institutional investors have recently bought and sold shares of MYGN. Loomis Sayles & Co. L P increased its position in Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock valued at $59,973,000 after acquiring an additional 1,326,497 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Myriad Genetics by 21.1% in the third 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 period. Iron Triangle Partners LP bought a new position in Myriad Genetics during the 3rd quarter worth $11,007,000. State Street Corp lifted its holdings in Myriad Genetics by 8.3% during the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after buying an additional 359,685 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Myriad Genetics by 26.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock valued at $29,135,000 after buying an additional 224,255 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $13.50 on Friday. The firm’s fifty day moving average price is $16.87 and its two-hundred day moving average price is $23.01. Myriad Genetics has a 1 year low of $12.87 and a 1 year high of $29.30. The firm has a market capitalization of $1.23 billion, a P/E ratio of -10.38 and a beta of 1.87. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

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.