Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has received a consensus recommendation of "Hold" from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $28.91.
A number of equities analysts have weighed in on MYGN shares. Wells Fargo & Company began coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 price target on the stock. Scotiabank raised their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 13th. Morgan Stanley assumed coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Piper Sandler raised their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an "underweight" rating in a research note on Wednesday, August 7th.
Get Our Latest Report on MYGN
MYGN stock opened at $17.99 on Friday. The business has a fifty day moving average of $25.57 and a 200-day moving average of $24.72. The company has a market cap of $1.63 billion, a P/E ratio of -9.94 and a beta of 1.91. Myriad Genetics has a twelve month low of $15.78 and a twelve month high of $29.30. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.06. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. Myriad Genetics's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. As a group, equities research analysts expect that Myriad Genetics will post -0.35 EPS for the current year.
In related news, CEO Paul J. Diaz sold 15,000 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the sale, the chief executive officer now directly owns 962,378 shares in the company, valued at $22,067,327.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares of the company's stock, valued at approximately $3,290,578.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $343,950.00. Following the sale, the chief executive officer now owns 962,378 shares in the company, valued at approximately $22,067,327.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,012 shares of company stock valued at $1,900,485. 2.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its holdings in shares of Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company's stock valued at $28,000 after acquiring an additional 491 shares in the last quarter. Innealta Capital LLC bought a new stake in Myriad Genetics during the 2nd quarter valued at $36,000. GAMMA Investing LLC raised its holdings in Myriad Genetics by 34.1% during the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock worth $44,000 after buying an additional 412 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Myriad Genetics in the second quarter valued at $60,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Myriad Genetics during the second quarter valued at about $82,000. 99.02% of the stock is owned by institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Myriad Genetics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Myriad Genetics wasn't on the list.
While Myriad Genetics currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.