Piper Sandler Cuts Myriad Genetics (NASDAQ:MYGN) Price Target to $24.00

Myriad Genetics (NASDAQ:MYGN) had its price target decreased by Piper Sandler from $30.00 to $24.00 in a research report report published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company began coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price for the company. Morgan Stanley began coverage on Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price objective for the company. Scotiabank increased their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Finally, TD Cowen increased their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Myriad Genetics has a consensus rating of “Hold” and a consensus price target of $28.36.

Myriad Genetics Stock Performance

Shares of NASDAQ MYGN opened at $15.78 on Monday. The business’s 50-day simple moving average is $23.90 and its 200-day simple moving average is $24.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics has a 52 week low of $15.72 and a 52 week high of $29.30. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -12.14 and a beta of 1.93.

Insiders Place Their Bets

In other news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares in the company, valued at approximately $22,067,327.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Heinrich Dreismann sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now owns 121,648 shares in the company, valued at $3,290,578.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares in the company, valued at $22,067,327.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock worth $1,900,485 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Myriad Genetics

Large investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P increased its holdings in shares of Myriad Genetics by 153.7% during the third quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock worth $59,973,000 after buying an additional 1,326,497 shares in the last quarter. Fisher Asset Management LLC grew its position in Myriad Genetics by 47.8% during the 3rd quarter. Fisher Asset Management LLC now owns 602,842 shares of the company’s stock worth $16,512,000 after acquiring an additional 195,094 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in Myriad Genetics during the 3rd quarter worth approximately $4,756,000. Earnest Partners LLC increased its holdings in Myriad Genetics by 3.5% during the 2nd quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock valued at $99,602,000 after purchasing an additional 138,960 shares in the last quarter. Finally, Sei Investments Co. raised its position in Myriad Genetics by 5.4% in the 2nd quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock valued at $59,125,000 after purchasing an additional 124,007 shares during the last quarter. 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.