Piper Sandler Issues Pessimistic Forecast for Myriad Genetics (NASDAQ:MYGN) Stock Price

Myriad Genetics (NASDAQ:MYGN - Free Report) had its target price lowered by Piper Sandler from $14.00 to $11.50 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Leerink Partnrs downgraded shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 9th. Bank of America decreased their price objective on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group lowered their target price on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Leerink Partners cut Myriad Genetics from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $30.00 to $21.00 in a research report on Monday, December 9th. Finally, Craig Hallum started coverage on Myriad Genetics in a research report on Wednesday, February 12th. They set a "buy" rating and a $29.00 price target on the stock. Three 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 stock. Based on data from MarketBeat, Myriad Genetics presently has an average rating of "Hold" and an average target price of $21.82.

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Myriad Genetics Trading Down 3.2 %

Myriad Genetics stock traded down $0.34 during midday trading on Tuesday, hitting $10.18. 819,577 shares of the stock were exchanged, compared to its average volume of 1,155,522. Myriad Genetics has a 52 week low of $9.76 and a 52 week high of $29.30. The stock has a market capitalization of $929.53 million, a PE ratio of -7.83 and a beta of 1.79. 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 company has a fifty day simple moving average of $13.02 and a two-hundred day simple moving average of $18.55.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. During the same quarter last year, the company earned ($0.12) earnings per share. Equities research analysts anticipate that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MYGN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Myriad Genetics by 43.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,229 shares of the company's stock worth $3,910,000 after buying an additional 86,973 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Myriad Genetics during the 4th quarter worth approximately $1,635,000. Squarepoint Ops LLC boosted its position in shares of Myriad Genetics by 27.0% during the 4th quarter. Squarepoint Ops LLC now owns 138,869 shares of the company's stock worth $1,904,000 after acquiring an additional 29,524 shares in the last quarter. Twinbeech Capital LP bought a new position in Myriad Genetics in the fourth quarter valued at approximately $562,000. Finally, Rafferty Asset Management LLC increased its stake in Myriad Genetics by 50.4% in the fourth quarter. Rafferty Asset Management LLC now owns 166,138 shares of the company's stock valued at $2,278,000 after acquiring an additional 55,690 shares during the last quarter. 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.