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

Myriad Genetics (NASDAQ:MYGN) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 23.84% from the company’s current price.

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

Myriad Genetics Trading Up 1.2 %

Shares of MYGN traded up $0.30 during mid-day trading on Wednesday, reaching $26.26. 617,154 shares of the company were exchanged, compared to its average volume of 733,067. Myriad Genetics has a 52 week low of $13.82 and a 52 week high of $28.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.99. The stock has a market capitalization of $2.38 billion, a PE ratio of -9.33 and a beta of 1.95. The business has a 50 day simple moving average of $25.01 and a two-hundred day simple moving average of $22.89.

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

Insider Transactions at Myriad Genetics

In other news, Director Daniel K. Spiegelman sold 3,788 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $22.04, for a total transaction of $83,487.52. Following the transaction, the director now directly owns 36,705 shares of the company’s stock, valued at $808,978.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel K. Spiegelman sold 3,788 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $22.04, for a total transaction of $83,487.52. Following the completion of the sale, the director now owns 36,705 shares in the company, valued at $808,978.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul J. Diaz sold 75,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 142,832 shares of company stock valued at $3,574,217 over the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp grew its holdings in Myriad Genetics by 13.9% during the second quarter. Texas Permanent School Fund Corp now owns 88,278 shares of the company’s stock worth $2,159,000 after buying an additional 10,793 shares in the last quarter. Quest Partners LLC grew its stake in Myriad Genetics by 10,724.5% in the 2nd quarter. Quest Partners LLC now owns 5,304 shares of the company’s stock valued at $130,000 after purchasing an additional 5,255 shares during the period. Arizona State Retirement System grew its stake in Myriad Genetics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock valued at $615,000 after purchasing an additional 829 shares during the period. Rhumbline Advisers grew its stake in Myriad Genetics by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 283,435 shares of the company’s stock valued at $6,933,000 after purchasing an additional 6,761 shares during the period. Finally, Natixis Advisors LLC grew its stake in Myriad Genetics by 15.5% in the 2nd quarter. Natixis Advisors LLC now owns 275,367 shares of the company’s stock valued at $6,735,000 after purchasing an additional 37,002 shares during the period. Institutional investors own 99.02% of the company’s stock.

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.