Myriad Genetics (NASDAQ:MYGN) Rating Lowered to “Neutral” at Guggenheim

Myriad Genetics (NASDAQ:MYGN) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Finviz reports.

MYGN has been the subject of a number of other research reports. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. The Goldman Sachs Group dropped their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and upped their price target for the company from $11.50 to $12.50 in a report on Wednesday, March 12th. Craig Hallum assumed coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 price objective for the company. Finally, UBS Group cut their price objective on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Myriad Genetics has an average rating of “Hold” and a consensus target price of $20.89.

Myriad Genetics Stock Down 4.2 %

MYGN stock opened at $7.73 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $11.07 and its 200 day moving average price is $15.42. Myriad Genetics has a 52 week low of $7.61 and a 52 week high of $29.30. The company has a market cap of $705.82 million, a P/E ratio of -5.95 and a beta of 1.87.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same period last year, the firm earned ($0.12) EPS. On average, research analysts expect that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Myriad Genetics by 520.8% in the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company’s stock valued at $40,000 after purchasing an additional 3,750 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 purchasing an additional 86,973 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Myriad Genetics during the 4th quarter valued at $1,635,000. Squarepoint Ops LLC increased its holdings in shares of 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 buying an additional 29,524 shares during the last quarter. Finally, Twinbeech Capital LP purchased a new position in shares of Myriad Genetics in the 4th quarter worth $562,000. Institutional investors and hedge funds 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.