Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $14.00 at The Goldman Sachs Group

Myriad Genetics (NASDAQ:MYGN) had its price target cut by The Goldman Sachs Group from $18.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 83.25% from the company’s current price.

Other equities analysts also recently issued reports about the company. Scotiabank cut their target price on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 1st. Piper Sandler upgraded shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $11.50 to $12.50 in a research report on Wednesday, March 12th. StockNews.com upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Thursday, April 10th. Stephens reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, Craig Hallum began coverage on Myriad Genetics in a report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price target for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.61.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $7.64 on Thursday. The company has a market capitalization of $704.19 million, a PE ratio of -5.88 and a beta of 1.87. Myriad Genetics has a 1 year low of $7.35 and a 1 year high of $29.30. The company has a fifty day moving average of $10.24 and a two-hundred day moving average of $14.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business 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 quarter last year, the company posted ($0.12) EPS. As a group, analysts expect that Myriad Genetics will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Myriad Genetics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Myriad Genetics by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock worth $145,203,000 after purchasing an additional 279,379 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Myriad Genetics by 0.4% in the fourth quarter. Earnest Partners LLC now owns 3,971,598 shares of the company’s stock valued at $54,451,000 after buying an additional 15,650 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Myriad Genetics by 13.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock worth $37,932,000 after buying an additional 336,770 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Myriad Genetics by 7.4% during the 4th quarter. Sei Investments Co. now owns 2,526,761 shares of the company’s stock worth $34,642,000 after acquiring an additional 174,770 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Myriad Genetics by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company’s stock valued at $59,010,000 after purchasing an additional 21,220 shares during the period. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

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.