Myriad Genetics (NASDAQ:MYGN) Given New $16.00 Price Target at UBS Group

Myriad Genetics (NASDAQ:MYGN) had its price objective lowered by equities researchers at UBS Group from $18.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 31.89% from the company’s previous close.

Several other research analysts have also recently weighed in on MYGN. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Piper Sandler lowered their price objective on shares of Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Morgan Stanley cut their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, Bank of America lowered their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research note on Friday, December 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.38.

Myriad Genetics Trading Down 12.0 %

Shares of Myriad Genetics stock traded down $1.65 during trading hours on Tuesday, hitting $12.13. The company’s stock had a trading volume of 761,888 shares, compared to its average volume of 1,087,416. The company has a market capitalization of $1.10 billion, a PE ratio of -9.34 and a beta of 1.88. 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 stock has a 50 day moving average of $13.45 and a 200 day moving average of $19.38. Myriad Genetics has a 12 month low of $9.76 and a 12 month high of $29.30.

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 analysts’ consensus estimates of $0.03 by ($0.12). The business had revenue of $210.60 million for the quarter, compared to the consensus estimate 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) earnings per share. Analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MYGN. Creative Planning lifted its holdings in Myriad Genetics by 9.8% during 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. boosted its holdings in shares of Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after buying an additional 583 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Myriad Genetics by 182.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company’s stock worth $313,000 after buying an additional 7,381 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Myriad Genetics by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,468 shares of the company’s stock valued at $478,000 after buying an additional 6,834 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings 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 acquiring an additional 3,102 shares during the period. 99.02% of the stock is currently 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.