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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given an average rating of “Hold” by the fifteen analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $21.82.

Several research firms have commented on MYGN. Raymond James reiterated an “outperform” rating and issued a $19.00 price objective (down from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. The Goldman Sachs Group lowered their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Finally, Bank of America dropped their price target on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Monday, March 3rd.

Hedge Funds Weigh In On Myriad Genetics

Hedge funds have recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of Myriad Genetics by 9.8% during the 3rd quarter. Creative Planning now owns 9,949 shares of the company’s stock worth $273,000 after acquiring an additional 892 shares during the period. Nisa Investment Advisors LLC lifted its stake in Myriad Genetics by 182.9% during the third quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company’s stock worth $313,000 after purchasing an additional 7,381 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Myriad Genetics by 4.4% in the 3rd quarter. New York State Teachers Retirement System now owns 73,900 shares of the company’s stock valued at $2,024,000 after purchasing an additional 3,102 shares in the last quarter. Atria Investments Inc increased its stake in shares of Myriad Genetics by 5.4% in the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after purchasing an additional 581 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Myriad Genetics during the 3rd quarter worth $1,965,000. 99.02% of the stock is owned by institutional investors.

Myriad Genetics Trading Up 6.8 %

Shares of NASDAQ:MYGN opened at $10.25 on Friday. Myriad Genetics has a 52-week low of $9.36 and a 52-week high of $29.30. 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 company has a market capitalization of $935.92 million, a P/E ratio of -7.88 and a beta of 1.79. The company has a 50-day simple moving average of $12.80 and a 200 day simple moving average of $18.04.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. During the same period in the previous year, the business earned ($0.12) earnings per share. Sell-side analysts forecast that Myriad Genetics will post -0.3 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.