Myriad Genetics (NASDAQ:MYGN) Price Target Cut to $18.00 by Analysts at The Goldman Sachs Group

Myriad Genetics (NASDAQ:MYGN - Free Report) had its price target cut by The Goldman Sachs Group from $29.00 to $18.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

MYGN has been the topic of a number of other reports. Stephens reissued an "equal weight" rating and issued a $20.00 price target on shares of Myriad Genetics in a research report on Thursday, January 16th. Piper Sandler decreased their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, November 11th. Morgan Stanley decreased their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. UBS Group initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They issued a "neutral" rating and a $18.00 price objective for the company. Finally, Leerink Partners lowered shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.00.

Myriad Genetics Trading Down 1.9 %

NASDAQ:MYGN traded down $0.24 during mid-day trading on Tuesday, reaching $12.67. 1,112,143 shares of the company's stock traded hands, compared to its average volume of 1,069,800. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a 50 day moving average price of $14.14 and a 200-day moving average price of $21.10. Myriad Genetics has a 12-month low of $12.04 and a 12-month high of $29.30. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.75 and a beta of 1.89.

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

Institutional Investors Weigh In On Myriad Genetics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics in the 3rd quarter worth $32,000. GAMMA Investing LLC increased its stake in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock worth $44,000 after purchasing an additional 412 shares in the last quarter. Point72 DIFC Ltd bought a new position in Myriad Genetics in the 2nd quarter worth $60,000. KBC Group NV boosted its holdings in 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 buying an additional 3,334 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Myriad Genetics in the 2nd quarter worth $82,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

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.