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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given a consensus recommendation of “Hold” by the twelve analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.27.

MYGN has been the topic of a number of recent research reports. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Bank of America reduced their price objective on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a 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 target price on the stock. Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, Morgan Stanley decreased their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

A number of institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D bought a new position in shares of Myriad Genetics during the third quarter worth about $1,965,000. Legato Capital Management LLC bought a new position in shares of Myriad Genetics during the 2nd quarter worth approximately $1,123,000. Maven Securities LTD acquired a new stake in shares of Myriad Genetics in the second quarter valued at approximately $1,223,000. Simplify Asset Management Inc. acquired a new stake in shares of Myriad Genetics in the third quarter valued at approximately $4,756,000. Finally, Sei Investments Co. lifted its position in shares of Myriad Genetics by 5.4% in the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock worth $59,125,000 after purchasing an additional 124,007 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $13.50 on Friday. Myriad Genetics has a 12 month low of $12.87 and a 12 month high of $29.30. The company has a market capitalization of $1.23 billion, a P/E ratio of -10.38 and a beta of 1.87. The stock has a 50 day moving average of $16.87 and a two-hundred day moving average of $23.01. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

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.