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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned an average rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $24.27.

Several research firms recently commented on MYGN. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America cut their target price on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. UBS Group assumed coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, Morgan Stanley dropped their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th.

Insider Activity

In other news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares in the company, 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 is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in shares of Myriad Genetics during the third quarter valued at about $32,000. Innealta Capital LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter worth about $36,000. GAMMA Investing LLC lifted its stake in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after acquiring an additional 412 shares during the period. Point72 DIFC Ltd bought a new position in shares of Myriad Genetics in the second quarter valued at approximately $60,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after acquiring an additional 583 shares during the period. 99.02% of the stock is owned by institutional investors.

Myriad Genetics Stock Performance

Myriad Genetics stock opened at $13.42 on Friday. Myriad Genetics has a 12-month low of $12.87 and a 12-month high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -10.32 and a beta of 1.87. The firm’s fifty day moving average price is $16.67 and its 200 day moving average price is $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.