Analysts Set Myriad Genetics, Inc. (NASDAQ:MYGN) PT at $24.27

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given a consensus recommendation of “Hold” by the thirteen analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $23.92.

Several brokerages recently commented on MYGN. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Morgan Stanley dropped their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. UBS Group began coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price objective on the stock. Stephens reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a report on Thursday, January 16th. Finally, StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th.

Institutional Investors Weigh In On Myriad Genetics

Hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics in the third quarter worth $32,000. GAMMA Investing LLC increased its position in Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after buying an additional 412 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Myriad Genetics during the 2nd quarter worth approximately $60,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Myriad Genetics during the 2nd quarter worth approximately $82,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after acquiring an additional 583 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Stock Performance

Myriad Genetics stock opened at $12.39 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.13 billion, a PE ratio of -9.53 and a beta of 1.89. Myriad Genetics has a 12-month low of $12.17 and a 12-month high of $29.30. The business’s 50-day moving average price is $14.59 and its two-hundred day moving average price is $21.76.

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.