Myriad Genetics (NASDAQ:MYGN) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a neutral rating to an overweight rating in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have $12.50 price target on the stock, up from their previous price target of $11.50.

Several other equities research analysts also recently weighed in on MYGN. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Craig Hallum assumed coverage on Myriad Genetics in a report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price for the company. UBS Group decreased their target price on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Bank of America decreased their target price on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their target price on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $21.89.

Myriad Genetics Price Performance

MYGN opened at $10.41 on Wednesday. The business’s 50-day moving average is $12.74 and its two-hundred day moving average is $17.99. Myriad Genetics has a 1 year low of $9.36 and a 1 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 firm has a market capitalization of $950.53 million, a PE ratio of -8.01 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly 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 during 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 period in the prior year, the business posted ($0.12) EPS. Research analysts anticipate that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Atria Investments Inc increased its position in shares of Myriad Genetics by 5.4% in the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after buying an additional 581 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Myriad Genetics in the third quarter valued at approximately $1,965,000. GSA Capital Partners LLP purchased a new stake in shares of Myriad Genetics in the third quarter valued at approximately $505,000. Simplify Asset Management Inc. purchased a new stake in shares of Myriad Genetics in the third quarter valued at approximately $4,756,000. Finally, Natixis Advisors LLC increased its position in shares of Myriad Genetics by 16.2% in the third quarter. Natixis Advisors LLC now owns 320,013 shares of the company’s stock valued at $8,765,000 after buying an additional 44,646 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

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.