UBS Group Has Lowered Expectations for Myriad Genetics (NASDAQ:MYGN) Stock Price

Myriad Genetics (NASDAQ:MYGN) had its price target trimmed by UBS Group from $18.00 to $16.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Bank of America cut their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, December 13th. Craig Hallum started coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price for the company. Leerink Partnrs lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Morgan Stanley cut their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Finally, Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.14.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $11.07 on Tuesday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -8.52 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 has a 12 month low of $9.76 and a 12 month high of $29.30. The stock’s 50 day moving average price is $13.33 and its 200 day moving average price is $19.16.

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

Institutional Trading of Myriad Genetics

A number of hedge funds have recently made changes to their positions in MYGN. Atria Investments Inc grew its position in Myriad Genetics by 5.4% during the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after purchasing an additional 581 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after acquiring an additional 583 shares in the last quarter. Creative Planning grew its holdings in shares of Myriad Genetics by 9.8% during the 3rd quarter. Creative Planning now owns 9,949 shares of the company’s stock valued at $273,000 after acquiring an additional 892 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Myriad Genetics in the third quarter worth $32,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after acquiring an additional 1,471 shares in the last quarter. 99.02% of the stock is 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.