Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $20.00 at Scotiabank

Myriad Genetics (NASDAQ:MYGN) had its price objective reduced by Scotiabank from $24.00 to $20.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $11.50 to $12.50 in a report on Wednesday, March 12th. Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.89.

Myriad Genetics Trading Down 0.3 %

NASDAQ:MYGN opened at $8.84 on Tuesday. The stock has a market cap of $807.17 million, a price-to-earnings ratio of -6.80 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’s 50 day moving average price is $11.61 and its 200-day moving average price is $16.17. Myriad Genetics has a 52 week low of $8.53 and a 52 week high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. On average, equities research analysts forecast that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Myriad Genetics

A number of hedge funds and other institutional investors have recently bought and sold shares of MYGN. Nordea Investment Management AB grew its stake in shares of Myriad Genetics by 117.0% during the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock valued at $4,548,000 after acquiring an additional 179,527 shares during the period. Jennison Associates LLC lifted its holdings in Myriad Genetics by 144.2% during the fourth quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock valued at $809,000 after purchasing an additional 34,853 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Myriad Genetics by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock worth $841,000 after purchasing an additional 3,711 shares during the period. Barclays PLC boosted its position in shares of Myriad Genetics by 136.9% in the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after purchasing an additional 109,931 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Myriad Genetics by 26.7% in the third quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock worth $29,135,000 after purchasing an additional 224,255 shares in 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.