Piper Sandler Cuts Myriad Genetics (NASDAQ:MYGN) Price Target to $14.00

Myriad Genetics (NASDAQ:MYGN) had its price objective reduced by Piper Sandler from $24.00 to $14.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on the stock. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $30.00 to $21.00 in a research report on Monday, December 9th. The Goldman Sachs Group dropped their price objective on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, UBS Group began coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.00.

Myriad Genetics Stock Down 1.9 %

Shares of NASDAQ MYGN opened at $12.67 on Thursday. The company has a market capitalization of $1.15 billion, a P/E ratio of -9.75 and a beta of 1.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a 50 day simple moving average of $14.09 and a 200-day simple moving average of $20.96. Myriad Genetics has a 1 year low of $12.04 and a 1 year high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Thursday, November 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The company had revenue of $213.30 million during the quarter, compared to analyst estimates of $209.82 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same period in the previous year, the company earned ($0.17) EPS. On average, equities research analysts predict that Myriad Genetics will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics in the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC raised its stake in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after purchasing an additional 412 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Myriad Genetics in the second quarter valued at $60,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after buying an additional 583 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Myriad Genetics in the second quarter worth $82,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.