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

Myriad Genetics, Inc. (NASDAQ:MYGN) has received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.4444.

Several equities analysts have commented on the company. TD Cowen raised their price objective on Myriad Genetics from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Piper Sandler lowered their price target on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a report on Monday, December 29th. Cowen reiterated a “hold” rating on shares of Myriad Genetics in a report on Tuesday, November 4th. Finally, Wells Fargo & Company boosted their price target on Myriad Genetics from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th.

Myriad Genetics Trading Down 2.0%

MYGN opened at $5.92 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.33 and a debt-to-equity ratio of 0.32. Myriad Genetics has a 52 week low of $3.76 and a 52 week high of $15.47. The stock has a market cap of $551.80 million, a PE ratio of -1.37 and a beta of 1.81. The business has a 50 day moving average of $6.76 and a 200-day moving average of $6.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in shares of Myriad Genetics by 1,088.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock worth $30,000 after purchasing an additional 3,745 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after buying an additional 4,480 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Myriad Genetics by 6,192.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company’s stock worth $28,000 after buying an additional 5,264 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Myriad Genetics by 407.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company’s stock worth $31,000 after buying an additional 4,635 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Myriad Genetics in the 2nd quarter worth about $37,000. Institutional investors own 99.02% of the company’s stock.

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.