Myriad Genetics (MYGN) Gets a Sell Rating from Barclays

By Jason Carr

Barclays analyst Jack Meehan maintained a Sell rating on Myriad Genetics (MYGNResearch Report) today and set a price target of $10.00. The company’s shares closed last Monday at $14.82, close to its 52-week low of $9.24.

According to TipRanks.com, Meehan is a 4-star analyst with an average return of 2.3% and a 56.6% success rate. Meehan covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, PRA Health Sciences, and IQVIA Holdings.

Currently, the analyst consensus on Myriad Genetics is a Hold with an average price target of $22.40.

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The company has a one-year high of $48.40 and a one-year low of $9.24. Currently, Myriad Genetics has an average volume of 1.11M.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MYGN in relation to earlier this year.

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Myriad Genetics, Inc. engages in the discovery, development, and marketing of transformative molecular diagnostic test. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of testing that is designed to asses an individual’s risk of developing a disease later in life. The Other segment offers products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients; and also includes corporate services such as finance, human resources, legal, and information technology. The company was founded by Walter A. Gilbert, Mark H. Skolnick, and Peter D. Meldrum in May 1991 and is headquartered in Salt Lake City, UT.