Myriad Genetics (NASDAQ:MYGN - Free Report) had its target price decreased by Bank of America from $13.00 to $11.00 in a research report released on Monday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.
A number of other equities research analysts also recently weighed in on MYGN. Piper Sandler reduced their target price on Myriad Genetics from $24.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Raymond James reaffirmed an "outperform" rating and issued a $19.00 price objective (down from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. Craig Hallum initiated coverage on Myriad Genetics in a research note on Wednesday, February 12th. They set a "buy" rating and a $29.00 target price for the company. Leerink Partners cut shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Finally, 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 report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $21.82.
Get Our Latest Analysis on Myriad Genetics
Myriad Genetics Price Performance
Shares of MYGN traded up $0.18 during trading hours on Monday, hitting $10.52. 879,671 shares of the company were exchanged, compared to its average volume of 1,163,330. 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 has a fifty-two week low of $9.76 and a fifty-two week high of $29.30. The company has a market cap of $957.69 million, a price-to-earnings ratio of -8.09 and a beta of 1.88. The firm's fifty day moving average is $13.08 and its 200 day moving average is $18.61.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (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 analyst estimates of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the previous year, the company earned ($0.12) earnings per share. On average, equities analysts anticipate that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Myriad Genetics
Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in shares of Myriad Genetics in the third quarter worth approximately $32,000. Sterling Capital Management LLC raised its holdings in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after purchasing an additional 2,556 shares during the last quarter. KBC Group NV lifted its position in shares of Myriad Genetics by 132.8% in the 4th 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. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock valued at $87,000 after purchasing an additional 583 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company's stock worth $132,000 after buying an additional 1,471 shares during the period. Institutional investors own 99.02% of the company's stock.
About Myriad Genetics
(
Get Free Report)
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.
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