Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $16.00 at UBS Group

Myriad Genetics (NASDAQ:MYGN) had its price objective decreased by analysts at UBS Group from $18.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 31.89% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Piper Sandler dropped their price target on shares of Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Bank of America lowered their price objective on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a report on Friday, December 13th. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Finally, Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.38.

Myriad Genetics Trading Down 12.0 %

Shares of NASDAQ:MYGN traded down $1.65 during midday trading on Tuesday, reaching $12.13. The company had a trading volume of 761,888 shares, compared to its average volume of 1,087,416. The company has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $19.38. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -9.34 and a beta of 1.88. Myriad Genetics has a 1-year low of $9.76 and a 1-year high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The firm had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 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 prior year, the business posted ($0.12) EPS. Research analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Trading of Myriad Genetics

A number of institutional investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P boosted its position in shares of Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock worth $59,973,000 after purchasing an additional 1,326,497 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Myriad Genetics by 58.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company’s stock worth $24,950,000 after buying an additional 668,429 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after acquiring an additional 440,107 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Myriad Genetics by 377.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company’s stock valued at $7,533,000 after acquiring an additional 434,420 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in shares of Myriad Genetics in the 3rd quarter valued at approximately $11,007,000. 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.