While Myriad Genetics, Inc. has underperformed by -0.16%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MYGN rose by 8.17%, with highs and lows ranging from $25.95 to $13.82, whereas the simple moving average jumped by 23.89% in the last 200 days.
On June 03, 2024, Jefferies started tracking Myriad Genetics, Inc. (NASDAQ: MYGN) recommending Underperform. A report published by Leerink Partners on May 08, 2024, Upgraded its rating to ‘Outperform’ for MYGN. Piper Sandler also rated MYGN shares as ‘Neutral’, setting a target price of $23 on the company’s shares in an initiating report dated December 21, 2023. Wells Fargo Initiated an Equal Weight rating on December 19, 2023, and assigned a price target of $20. Guggenheim initiated its ‘Buy’ rating for MYGN, as published in its report on December 14, 2023. Wolfe Research’s report from December 13, 2023 suggests a price prediction of $28 for MYGN shares, giving the stock a ‘Outperform’ rating. JP Morgan also rated the stock as ‘Underweight’.
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Analysis of Myriad Genetics, Inc. (MYGN)
Further, the quarter-over-quarter increase in sales is 11.59%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Myriad Genetics, Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -29.41% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.82, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 757.62K can be a very valuable indicator of volatility for MYGN stock. On a monthly basis, the volatility of the stock is set at 3.89%, whereas on a weekly basis, it is put at 3.60%, with a gain of 3.01% over the past seven days. Furthermore, long-term investors anticipate a median target price of $24.54, showing decline from the present price of $24.62, which can serve as yet another indication of whether MYGN is worth investing in or should be passed over.
How Do You Analyze Myriad Genetics, Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.12%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 104.59% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
MYGN shares are owned by institutional investors to the tune of 104.59% at present.
