Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $16.00 at UBS Group

Myriad Genetics (NASDAQ:MYGN - Get Free Report) had its price objective cut by UBS Group from $18.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price suggests a potential upside of 38.41% from the stock's current price.

Several other research analysts have also commented on the stock. Piper Sandler dropped their price objective on shares of Myriad Genetics from $24.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Morgan Stanley cut their target price on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. Leerink Partnrs lowered Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. Craig Hallum assumed coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price target on the stock. Finally, Bank of America reduced 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 report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $22.14.

Myriad Genetics Price Performance

MYGN stock traded down $0.18 during trading on Tuesday, hitting $11.56. 1,749,121 shares of the company's stock traded hands, compared to its average volume of 1,160,845. The business has a fifty day simple moving average of $13.41 and a 200 day simple moving average of $19.27. 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 stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -8.89 and a beta of 1.88. Myriad Genetics has a 52 week low of $9.76 and a 52 week high of $29.30.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $210.60 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned ($0.12) earnings per share. As a group, research analysts expect that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics in the third quarter valued at approximately $32,000. Sterling Capital Management LLC boosted its position in shares of Myriad Genetics by 829.9% in 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 in the last quarter. KBC Group NV grew its stake in Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after buying an additional 3,334 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock valued at $87,000 after buying an additional 583 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company's stock valued at $132,000 after buying an additional 1,471 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

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.