Myriad Genetics’ (MYGN) Outperform Rating Reiterated at Raymond James

Raymond James reiterated their outperform rating on shares of Myriad Genetics (NASDAQ:MYGN) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $19.00 price target on the stock, down from their previous price target of $27.00.

A number of other brokerages have also recently issued reports on MYGN. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Craig Hallum began coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 price objective for the company. Stephens reissued an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $30.00 to $21.00 in a report on Monday, December 9th. Finally, Piper Sandler lowered their price target on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.14.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $11.07 on Tuesday. Myriad Genetics has a 1 year low of $9.76 and a 1 year high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a 50 day moving average price of $13.33 and a 200 day moving average price of $19.16. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -8.52 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data 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). The company had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same period in the prior year, the firm earned ($0.12) earnings per share. Sell-side analysts predict 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. Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics in the third quarter valued at $32,000. Sterling Capital Management LLC increased its position in shares of Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after purchasing an additional 2,556 shares during the last quarter. KBC Group NV raised its stake in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Myriad Genetics by 21.6% during 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake 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 in the last quarter. 99.02% of the stock is currently owned by hedge funds and other 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.