Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $14.00 at Piper Sandler

Myriad Genetics (NASDAQ:MYGN) had its price objective reduced by Piper Sandler from $24.00 to $14.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on MYGN. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price target on shares of Myriad Genetics in a report on Thursday, January 16th. The Goldman Sachs Group decreased their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. UBS Group began coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target on the stock. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Finally, Bank of America lowered their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research note on Friday, December 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.00.

Myriad Genetics Stock Performance

MYGN opened at $12.91 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $14.14 and its two-hundred day moving average price is $21.10. Myriad Genetics has a 12-month low of $12.04 and a 12-month high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The company had revenue of $213.30 million during the quarter, compared to the consensus estimate of $209.82 million. During the same period last year, the company earned ($0.17) earnings per share. Sell-side analysts predict that Myriad Genetics will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in Myriad Genetics in the 3rd quarter valued at $32,000. GAMMA Investing LLC boosted its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Myriad Genetics in the second quarter worth about $60,000. KBC Group NV increased its position in Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Myriad Genetics during the 2nd quarter worth about $82,000. Institutional investors 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.