Myriad Genetics, Inc. (NASDAQ:MYGN) is 0.81 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 3.27% to $25.59 from its previous close of $24.78. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 144462 contracts so far this session. MYGN shares had a relatively better volume day versus average trading capacity of 1.1 million shares, but with a 73.27 million float and a -7.4% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MYGN stock indicates that the average analyst price target is $25.5 per share. This means the stock has a potential decrease of -0.35% from where the MYGN share price has been trading recently which is between $24.5914 and $25.46.
During the recent trading session for Myriad Genetics, Inc. (NASDAQ:MYGN), the company witnessed their stock drop by $-0.45 over a week and surge $4.57 from the price 20 days ago. When compared to their established 52-week high of $48.4, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/08/19. The recent low of $20.1 stood for a -47.13% since 05/11/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.9 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Myriad Genetics, Inc., the two-week RSI stands at 46.19. This figure suggests that MYGN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MYGN readings is similarly very revealing as it has a stochastic reading of 42.8% at this stage. This figure means that MYGN share price today is being neutral.
Technical chart claims that Myriad Genetics, Inc. (MYGN) would settle between $25.3/share to $25.81/share level. However, if the stock price goes below the $24.43 mark, then the market for Myriad Genetics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $24.08 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.43. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill lowered their recommendation on shares of MYGN from Neutral to Underperform in their opinion released on September 26. Piper Jaffray analysts have lowered their rating of Myriad Genetics, Inc. (NASDAQ:MYGN) stock from Overweight to Neutral in a separate flash note issued to investors on August 14. Analysts at BofA/Merrill released an upgrade from Underperform to Neutral for the stock, in a research note that dated back to August 02.
MYGN equity has an average rating of 2.51, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated Myriad Genetics, Inc. (NASDAQ:MYGN) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MYGN stock price is currently trading at 17.81X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 46.5. Myriad Genetics, Inc. current P/B ratio of 1.7 means it is trading at a discount against its industry’s 4.7.