Myriad Genetics (NASDAQ:MYGN) Receives Outperform Rating from Raymond James

Myriad Genetics (NASDAQ:MYGN)‘s stock had its “outperform” rating restated by equities researchers at Raymond James in a report issued on Tuesday,Benzinga reports. They presently have a $19.00 target price on the stock, down from their previous target price of $27.00. Raymond James’ price target suggests a potential upside of 60.79% from the stock’s previous close.

Several other equities analysts also recently commented on MYGN. UBS Group decreased their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Piper Sandler lowered their price target 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 lowered their price target 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. Finally, Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $30.00 to $21.00 in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.14.

Myriad Genetics Trading Down 14.2 %

Shares of Myriad Genetics stock traded down $1.96 during trading hours on Tuesday, hitting $11.82. The company’s stock had a trading volume of 1,367,646 shares, compared to its average volume of 1,105,271. Myriad Genetics has a 12 month low of $9.76 and a 12 month high of $29.30. The stock has a 50 day moving average of $13.45 and a 200 day moving average of $19.38. The company has a market capitalization of $1.08 billion, a PE ratio of -9.06 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.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly 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). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. During the same quarter last year, the company earned ($0.12) earnings per share. Analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Myriad Genetics

A number of hedge funds have recently bought and sold shares of the company. Atria Investments Inc raised its stake in Myriad Genetics by 5.4% during the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock worth $313,000 after buying an additional 581 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 purchasing an additional 583 shares during the period. Creative Planning grew its holdings in Myriad Genetics by 9.8% in the third quarter. Creative Planning now owns 9,949 shares of the company’s stock worth $273,000 after purchasing an additional 892 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics in the third quarter worth $32,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after purchasing an additional 1,471 shares during the period. Institutional investors own 99.02% of the company’s stock.

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.