Myriad Genetics (NASDAQ:MYGN) Given New $20.00 Price Target at JPMorgan Chase & Co.

Myriad Genetics (NASDAQ:MYGN) had its price target lifted by research analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 23.84% from the company’s current price.

A number of other research analysts also recently commented on MYGN. Scotiabank began coverage on shares of Myriad Genetics in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $29.00 price objective on the stock. Piper Sandler raised their price target on shares of Myriad Genetics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Jefferies Financial Group restated an “underperform” rating and issued a $20.00 price target (down from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. SVB Leerink upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $25.00 to $35.00 in a research report on Wednesday, May 8th. Finally, Leerink Partnrs upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Myriad Genetics has an average rating of “Hold” and a consensus price target of $26.00.

Myriad Genetics Stock Up 1.2 %

Shares of MYGN stock traded up $0.30 on Wednesday, hitting $26.26. The stock had a trading volume of 617,154 shares, compared to its average volume of 733,067. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -9.33 and a beta of 1.95. The stock’s 50 day moving average is $25.01 and its 200-day moving average is $22.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.99. Myriad Genetics has a 52-week low of $13.82 and a 52-week high of $28.90.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 30.30% and a negative return on equity of 6.77%. The firm had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. During the same period in the prior year, the firm posted ($0.21) EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, research analysts expect that Myriad Genetics will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 75,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $25.07, for a total value of $1,880,250.00. Following the sale, the chief executive officer now owns 1,066,166 shares of the company’s stock, valued at approximately $26,728,781.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Myriad Genetics news, CEO Paul J. Diaz sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $25.07, for a total transaction of $1,880,250.00. Following the transaction, the chief executive officer now owns 1,066,166 shares of the company’s stock, valued at approximately $26,728,781.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Paul J. Diaz sold 57,844 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $25.13, for a total transaction of $1,453,619.72. Following the transaction, the chief executive officer now directly owns 1,236,166 shares in the company, valued at approximately $31,064,851.58. The disclosure for this sale can be found here. Insiders have sold a total of 142,832 shares of company stock valued at $3,574,217 in the last quarter. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Myriad Genetics

Several large investors have recently made changes to their positions in the business. Glenview Capital Management LLC boosted its holdings in shares of Myriad Genetics by 39.6% in the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after buying an additional 1,500,000 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Myriad Genetics by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after purchasing an additional 1,223,446 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Myriad Genetics by 8.6% during the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock worth $190,524,000 after purchasing an additional 789,496 shares during the period. Sei Investments Co. boosted its holdings in shares of Myriad Genetics by 41.9% during the fourth quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock worth $41,370,000 after purchasing an additional 638,147 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Myriad Genetics by 80.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company’s stock worth $7,620,000 after purchasing an additional 149,234 shares during the period. Institutional investors own 99.02% of the company’s stock.

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.