Myriad Genetics (NASDAQ:MYGN) Stock Rating Lowered by Wolfe Research

Wolfe Research lowered shares of Myriad Genetics (NASDAQ:MYGN - Free Report) from an outperform rating to a peer perform rating in a research note released on Thursday morning, MarketBeat reports.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of Myriad Genetics from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $22.00 to $6.00 in a research note on Wednesday, May 7th. Scotiabank decreased their price target on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 1st. Guggenheim downgraded shares of Myriad Genetics from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. StockNews.com raised shares of Myriad Genetics from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. Finally, Piper Sandler raised shares of Myriad Genetics from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $16.04.

Myriad Genetics Trading Down 1.6%

Shares of MYGN stock traded down $0.07 during trading hours on Thursday, hitting $4.18. 1,777,724 shares of the company's stock traded hands, compared to its average volume of 1,085,972. The stock's 50 day simple moving average is $8.23 and its 200 day simple moving average is $12.31. The stock has a market cap of $385.30 million, a PE ratio of -3.22 and a beta of 2.01. Myriad Genetics has a 12 month low of $3.83 and a 12 month high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $195.90 million during the quarter, compared to the consensus estimate of $200.37 million. During the same quarter last year, the firm earned ($0.01) earnings per share. Myriad Genetics's quarterly revenue was down 33.6% on a year-over-year basis. On average, sell-side analysts anticipate that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Trading of Myriad Genetics

Institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in 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 in the last quarter. GAMMA Investing LLC lifted its stake in Myriad Genetics by 520.8% in the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after purchasing an additional 3,750 shares in the last quarter. KBC Group NV lifted its stake in Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after purchasing an additional 3,334 shares in the last quarter. CWM LLC lifted its stake in Myriad Genetics by 600.2% in the 1st quarter. CWM LLC now owns 9,796 shares of the company's stock worth $87,000 after purchasing an additional 8,397 shares in the last quarter. Finally, M.E. Allison & CO. Inc. purchased a new stake in Myriad Genetics in the 1st quarter worth approximately $93,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

About Myriad Genetics

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.