Myriad Genetics (NASDAQ:MYGN) Given New $14.00 Price Target at Piper Sandler

Myriad Genetics (NASDAQ:MYGN) had its price objective reduced by equities researchers at Piper Sandler from $24.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 11.64% from the company’s current price.

MYGN has been the subject of several other research reports. Stephens restated an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research report on Thursday, January 16th. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Morgan Stanley dropped their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Finally, UBS Group initiated coverage on shares of Myriad Genetics in a research report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.00.

Myriad Genetics Stock Up 0.3 %

Shares of MYGN opened at $12.54 on Thursday. The company has a market capitalization of $1.14 billion, a P/E ratio of -9.65 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. Myriad Genetics has a one year low of $12.04 and a one year high of $29.30. The business’s 50 day simple moving average is $14.19 and its 200-day simple moving average is $21.16.

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

Institutional Trading of Myriad Genetics

Large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Myriad Genetics in the 3rd quarter valued at $32,000. GAMMA Investing LLC increased its position in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after buying an additional 412 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Myriad Genetics in the 2nd quarter valued at $60,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after buying an additional 583 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Myriad Genetics in the 2nd quarter valued at $82,000. Institutional investors 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.