UBS Group Issues Pessimistic Forecast for Myriad Genetics (NASDAQ:MYGN) Stock Price

Myriad Genetics (NASDAQ:MYGN) had its target price decreased by UBS Group from $16.00 to $7.00 in a research note published on Wednesday morning, MarketBeat reports. UBS Group currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on MYGN. Craig Hallum assumed coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price on the stock. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a report on Thursday, January 16th. StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. Raymond James reaffirmed an “outperform” rating and set a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. Finally, Guggenheim downgraded shares of Myriad Genetics from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and a consensus price target of $16.04.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN opened at $3.89 on Wednesday. The firm has a market cap of $358.55 million, a P/E ratio of -2.99 and a beta of 2.01. The business’s 50 day moving average is $8.35 and its 200-day moving average is $12.57. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 1-year low of $3.86 and a 1-year high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $195.90 million for the quarter, compared to analysts’ expectations of $200.37 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company’s quarterly revenue was down 33.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS. Equities research analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Trading of Myriad Genetics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Myriad Genetics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,667,755 shares of the company’s stock worth $94,623,000 after buying an additional 76,712 shares during the period. Earnest Partners LLC lifted its holdings in shares of Myriad Genetics by 0.4% during the fourth quarter. Earnest Partners LLC now owns 3,971,598 shares of the company’s stock worth $54,451,000 after purchasing an additional 15,650 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Myriad Genetics by 13.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock worth $37,932,000 after purchasing an additional 336,770 shares during the last quarter. Sei Investments Co. increased its holdings in Myriad Genetics by 7.4% in the fourth quarter. Sei Investments Co. now owns 2,526,761 shares of the company’s stock valued at $34,642,000 after purchasing an additional 174,770 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in 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 purchasing an additional 668,429 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.

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.