The Goldman Sachs Group Lowers Myriad Genetics (NASDAQ:MYGN) Price Target to $14.00

Myriad Genetics (NASDAQ:MYGN) had its target price decreased by The Goldman Sachs Group from $18.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 83.25% from the stock’s previous close.

A number of other research firms have also recently commented on MYGN. Bank of America lowered their target price on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Monday, March 3rd. Stephens reissued an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Raymond James reiterated an “outperform” rating and set a $19.00 price target (down previously from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. Scotiabank reduced their price objective on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 1st. Finally, Piper Sandler upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $11.50 to $12.50 in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.61.

Myriad Genetics Stock Down 3.4 %

Myriad Genetics stock opened at $7.64 on Thursday. Myriad Genetics has a twelve month low of $7.35 and a twelve month high of $29.30. The business has a fifty day moving average of $10.24 and a two-hundred day moving average of $14.41. The firm has a market cap of $704.19 million, a P/E ratio of -5.88 and a beta of 1.87. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $210.35 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 ($0.12) EPS. On average, analysts forecast that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Myriad Genetics

Institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in Myriad Genetics by 117.0% in the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock worth $4,548,000 after buying an additional 179,527 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock valued at $809,000 after purchasing an additional 34,853 shares during the last quarter. Victory Capital Management Inc. lifted its position in Myriad Genetics by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock valued at $841,000 after buying an additional 3,711 shares during the last quarter. Barclays PLC boosted its position in shares of Myriad Genetics by 136.9% during the 3rd quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after purchasing an additional 109,931 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Myriad Genetics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock valued at $145,203,000 after purchasing an additional 279,379 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

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.