Myriad Genetics (NASDAQ:MYGN) Given New $14.00 Price Target at Piper Sandler

Myriad Genetics (NASDAQ:MYGN) had its target price lowered by equities research analysts at Piper Sandler from $24.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 11.64% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America dropped their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a report on Friday, December 13th. Morgan Stanley dropped their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, StockNews.com raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.00.

Myriad Genetics Trading Up 0.3 %

Myriad Genetics stock opened at $12.54 on Thursday. The firm has a 50-day moving average of $14.19 and a 200-day moving average of $21.16. Myriad Genetics has a one year low of $12.04 and a one year high of $29.30. 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 market cap of $1.14 billion, a price-to-earnings ratio of -9.65 and a beta of 1.89.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data 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 business had revenue of $213.30 million for the quarter, compared to analyst estimates of $209.82 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, equities analysts expect that Myriad Genetics will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nordea Investment Management AB increased its holdings in shares of Myriad Genetics by 117.0% during the fourth quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock worth $4,548,000 after purchasing an additional 179,527 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Myriad Genetics during the third quarter worth approximately $1,965,000. Barclays PLC increased its holdings in shares of Myriad Genetics by 136.9% during 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. Simplify Asset Management Inc. bought a new position in shares of Myriad Genetics during the third quarter worth approximately $4,756,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Myriad Genetics by 26.7% during 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 during the period. 99.02% of the stock is owned by institutional investors.

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.