Myriad Genetics (NASDAQ:MYGN) Price Target Cut to $20.00 by Analysts at Scotiabank

Myriad Genetics (NASDAQ:MYGN) had its price objective trimmed by Scotiabank from $24.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other research firms also recently weighed in on MYGN. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group reduced their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Finally, Bank of America lowered their price objective on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Monday, March 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Myriad Genetics has a consensus rating of “Hold” and a consensus price target of $20.89.

Myriad Genetics Stock Down 4.4 %

MYGN stock opened at $8.41 on Tuesday. Myriad Genetics has a fifty-two week low of $8.11 and a fifty-two week high of $29.30. The stock has a market capitalization of $767.91 million, a price-to-earnings ratio of -6.47 and a beta of 1.79. The business’s fifty day moving average price is $11.46 and its two-hundred day moving average price is $16.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same quarter in the previous year, the company earned ($0.12) EPS. On average, equities analysts anticipate that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Trading of Myriad Genetics

Several institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Myriad Genetics by 43.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,229 shares of the company’s stock valued at $3,910,000 after buying an additional 86,973 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Myriad Genetics during the 4th quarter valued at approximately $1,635,000. Squarepoint Ops LLC raised its holdings in Myriad Genetics by 27.0% during the 4th quarter. Squarepoint Ops LLC now owns 138,869 shares of the company’s stock worth $1,904,000 after purchasing an additional 29,524 shares during the last quarter. Twinbeech Capital LP acquired a new position in shares of Myriad Genetics in the 4th quarter worth approximately $562,000. Finally, Rafferty Asset Management LLC boosted its stake in shares of Myriad Genetics by 50.4% in the 4th quarter. Rafferty Asset Management LLC now owns 166,138 shares of the company’s stock valued at $2,278,000 after purchasing an additional 55,690 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

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.