Piper Sandler Boosts Myriad Genetics (NASDAQ:MYGN) Price Target to $28.00

Myriad Genetics (NASDAQ:MYGN - Get Free Report) had its price target lifted by equities research analysts at Piper Sandler from $23.00 to $28.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price suggests a potential upside of 12.31% from the company's previous close.

Several other research analysts have also issued reports on the company. Leerink Partnrs raised Myriad Genetics from a "market perform" rating to an "outperform" rating in a research report on Wednesday, May 8th. The Goldman Sachs Group lifted their price objective on Myriad Genetics from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, January 29th. Finally, SVB Leerink raised Myriad Genetics from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $25.00 to $35.00 in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $25.57.

Myriad Genetics Stock Down 2.1 %

Myriad Genetics stock traded down $0.54 during midday trading on Monday, hitting $24.93. 1,205,413 shares of the company's stock were exchanged, compared to its average volume of 680,209. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.99. The company has a market cap of $2.26 billion, a PE ratio of -9.03 and a beta of 1.96. The firm has a 50-day moving average of $20.79 and a two-hundred day moving average of $20.08. Myriad Genetics has a 12 month low of $13.82 and a 12 month high of $25.95.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. Myriad Genetics had a negative net margin of 30.30% and a negative return on equity of 6.77%. The firm had revenue of $202.20 million for the quarter, compared to the consensus estimate of $193.51 million. During the same period last year, the firm earned ($0.28) earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts expect that Myriad Genetics will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MYGN. Ameritas Investment Partners Inc. raised its holdings in shares of Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company's stock valued at $186,000 after acquiring an additional 720 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Myriad Genetics by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company's stock worth $213,961,000 after purchasing an additional 81,475 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Myriad Genetics by 8.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,107 shares of the company's stock valued at $583,000 after purchasing an additional 2,050 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Myriad Genetics by 14.2% in the 1st quarter. ProShare Advisors LLC now owns 23,993 shares of the company's stock valued at $512,000 after purchasing an additional 2,990 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Myriad Genetics by 6.1% during the 1st quarter. Sei Investments Co. now owns 2,293,185 shares of the company's stock worth $48,891,000 after purchasing an additional 131,751 shares during 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.