While Myriad Genetics, Inc. has overperformed by 0.42%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MYGN rose by 61.70%, with highs and lows ranging from $29.08 to $13.82, whereas the simple moving average jumped by 15.78% in the last 200 days.
On August 28, 2024, Wells Fargo started tracking Myriad Genetics, Inc. (NASDAQ: MYGN) recommending Overweight. A report published by Scotiabank on June 27, 2024, Initiated its previous ‘Sector Outperform’ rating for MYGN. Jefferies also rated MYGN shares as ‘Underperform’, setting a target price of $20 on the company’s shares in an initiating report dated June 03, 2024. Leerink Partners May 08, 2024d the rating to Outperform on May 08, 2024, and set its price target from $25 to $35. Piper Sandler initiated its ‘Neutral’ rating for MYGN, as published in its report on December 21, 2023. Wells Fargo’s report from December 19, 2023 suggests a price prediction of $20 for MYGN shares, giving the stock a ‘Equal Weight’ rating. Guggenheim also rated the stock as ‘Buy’.
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Analysis of Myriad Genetics, Inc. (MYGN)
Further, the quarter-over-quarter increase in sales is 15.26%, 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 -21.03% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.78, 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 790.99K can be a very valuable indicator of volatility for MYGN stock. On a monthly basis, the volatility of the stock is set at 3.54%, whereas on a weekly basis, it is put at 3.65%, with a loss of -4.59% over the past seven days. Furthermore, long-term investors anticipate a median target price of $29.07, showing growth from the present price of $26.39, 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 4.00%. 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 101.97% 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 101.97% at present.
