Myriad Genetics (NASDAQ:MYGN) Given New $8.00 Price Target at The Goldman Sachs Group

Myriad Genetics (NASDAQ:MYGN) had its target price cut by The Goldman Sachs Group from $14.00 to $8.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on MYGN. Bank of America dropped their target price on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday, March 3rd. Raymond James restated an “outperform” rating and set a $10.00 price objective (down from $19.00) on shares of Myriad Genetics in a report on Wednesday. StockNews.com raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, April 10th. UBS Group dropped their price target on Myriad Genetics from $16.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Guggenheim lowered Myriad Genetics from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.04.

Myriad Genetics Trading Down 3.5 %

MYGN opened at $3.89 on Wednesday. Myriad Genetics has a twelve month low of $3.86 and a twelve month high of $29.30. The firm has a market cap of $358.55 million, a PE ratio of -2.99 and a beta of 2.01. 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’s fifty day moving average is $8.35 and its two-hundred day moving average is $12.57.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results 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. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The firm had revenue of $195.90 million for the quarter, compared to analyst estimates of $200.37 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was down 33.6% on a year-over-year basis. Equities research analysts anticipate that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Trading of Myriad Genetics

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its stake in Myriad Genetics by 114.6% in the first quarter. Headlands Technologies LLC now owns 46,727 shares of the company’s stock valued at $414,000 after buying an additional 24,958 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Myriad Genetics by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,165,395 shares of the company’s stock valued at $10,337,000 after purchasing an additional 39,860 shares during the period. Vanguard Group Inc. grew its holdings in Myriad Genetics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 10,667,755 shares of the company’s stock valued at $94,623,000 after buying an additional 76,712 shares in the last quarter. Natixis Advisors LLC increased its position in Myriad Genetics by 1.3% during the 1st quarter. Natixis Advisors LLC now owns 212,138 shares of the company’s stock worth $1,882,000 after buying an additional 2,810 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Myriad Genetics by 114.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 112,984 shares of the company’s stock worth $1,002,000 after buying an additional 60,317 shares in the last quarter. 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.