Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $18.00 at The Goldman Sachs Group

Myriad Genetics (NASDAQ:MYGN) had its price objective lowered by The Goldman Sachs Group from $29.00 to $18.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

MYGN has been the topic of a number of other reports. UBS Group initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 target price on the stock. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Bank of America lowered their price target on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. Finally, Piper Sandler dropped their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.83.

Myriad Genetics Trading Down 3.5 %

Shares of NASDAQ:MYGN opened at $12.50 on Tuesday. The company’s 50-day moving average price is $14.24 and its two-hundred day moving average price is $21.22. 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 stock has a market capitalization of $1.14 billion, a PE ratio of -9.62 and a beta of 1.89.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $213.30 million for the quarter, compared to the consensus estimate of $209.82 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the previous year, the company posted ($0.17) EPS. On average, equities analysts forecast that Myriad Genetics will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP acquired a new stake in Myriad Genetics in the 4th quarter worth about $178,000. Jennison Associates LLC raised its position in shares of Myriad Genetics by 144.2% in the fourth quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock valued at $809,000 after buying an additional 34,853 shares in the last quarter. KBC Group NV boosted its stake in shares of Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after buying an additional 3,334 shares during the period. Blue Trust Inc. grew its position in Myriad Genetics by 14.1% during the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock worth $198,000 after buying an additional 1,788 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Myriad Genetics by 84.9% during the 4th quarter. Inspire Investing LLC now owns 31,373 shares of the company’s stock worth $430,000 after acquiring an additional 14,406 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

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.