Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $20.00 at Scotiabank

Myriad Genetics (NASDAQ:MYGN) had its target price lowered by Scotiabank from $24.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

MYGN has been the subject of several other research reports. UBS Group dropped their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Raymond James reaffirmed an “outperform” rating and issued a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their target price 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, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $20.89.

Myriad Genetics Stock Down 0.3 %

NASDAQ MYGN opened at $8.84 on Tuesday. Myriad Genetics has a 12 month low of $8.53 and a 12 month high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock has a market cap of $807.17 million, a PE ratio of -6.80 and a beta of 1.79. The stock’s 50 day moving average is $11.61 and its 200 day moving average is $16.17.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $210.60 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted ($0.12) EPS. Research analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of Myriad Genetics by 117.0% during the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock worth $4,548,000 after purchasing an additional 179,527 shares during the period. Jennison Associates LLC raised its position in Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock worth $809,000 after purchasing an additional 34,853 shares during the period. Victory Capital Management Inc. lifted its stake in Myriad Genetics by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock worth $841,000 after purchasing an additional 3,711 shares during the last quarter. Barclays PLC boosted its position in shares of Myriad Genetics by 136.9% during the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock valued at $5,210,000 after buying an additional 109,931 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Myriad Genetics by 26.7% during the third quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock valued at $29,135,000 after buying an additional 224,255 shares during the period. Institutional investors own 99.02% of the company’s stock.

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.