While Myriad Genetics, Inc. has underperformed by -1.41%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MYGN rose by 59.84%, with highs and lows ranging from $29.30 to $13.82, whereas the simple moving average jumped by 14.66% in the last 200 days.
On September 19, 2024, Morgan Stanley started tracking Myriad Genetics, Inc. (NASDAQ: MYGN) recommending Equal-Weight. A report published by Wells Fargo on August 28, 2024, Initiated its previous ‘Overweight’ rating for MYGN. Scotiabank also rated MYGN shares as ‘Sector Outperform’, setting a target price of $29 on the company’s shares in an initiating report dated June 27, 2024. Jefferies Initiated an Underperform rating on June 03, 2024, and assigned a price target of $20. Leerink Partners May 08, 2024d its ‘Market Perform’ rating to ‘Outperform’ for MYGN, as published in its report on May 08, 2024. Piper Sandler’s report from December 21, 2023 suggests a price prediction of $23 for MYGN shares, giving the stock a ‘Neutral’ rating. Wells Fargo also rated the stock as ‘Equal Weight’.
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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.
Myriad Genetics, Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. 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.
The average volume for any stock is also a very valuable indicator of volatility, and MYGN has an average volume of 755.17K. On a monthly basis, the volatility of the stock is set at 3.97%, whereas on a weekly basis, it is put at 3.69%, with a loss of -7.17% over the past seven days. Furthermore, long-term investors anticipate a median target price of $29.27, showing growth from the present price of $26.55, 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 analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 3.99%. 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 102.02% 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 102.02% at present.
