Piper Sandler Has Lowered Expectations for Myriad Genetics (NASDAQ:MYGN) Stock Price

Myriad Genetics (NASDAQ:MYGN) had its target price trimmed by Piper Sandler from $14.00 to $11.50 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also commented on MYGN. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. 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 for the company. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $30.00 to $21.00 in a report on Monday, December 9th. Bank of America cut their price target on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday. Finally, Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.82.

Myriad Genetics Stock Up 1.7 %

Shares of NASDAQ MYGN opened at $10.52 on Tuesday. 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 business’s 50 day moving average is $13.08 and its two-hundred day moving average is $18.61. Myriad Genetics has a 52-week low of $9.76 and a 52-week high of $29.30. The firm has a market cap of $957.69 million, a price-to-earnings ratio of -8.09 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN) last posted its 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). 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 period in the previous year, the company posted ($0.12) EPS. Research analysts predict that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Trading of Myriad Genetics

A number of large investors have recently bought and sold shares of MYGN. Creative Planning grew its stake in shares of Myriad Genetics by 9.8% in the 3rd quarter. Creative Planning now owns 9,949 shares of the company’s stock valued at $273,000 after purchasing an additional 892 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after acquiring an additional 583 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Myriad Genetics by 182.9% in the third quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company’s stock valued at $313,000 after purchasing an additional 7,381 shares during the period. New York State Teachers Retirement System increased its stake in Myriad Genetics by 4.4% in the 3rd quarter. New York State Teachers Retirement System now owns 73,900 shares of the company’s stock valued at $2,024,000 after purchasing an additional 3,102 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of Myriad Genetics by 5.4% in the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after acquiring an additional 581 shares in the last quarter. Institutional investors and hedge funds 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.