Myriad Genetics (NASDAQ:MYGN) Given New $18.00 Price Target at The Goldman Sachs Group

Myriad Genetics (NASDAQ:MYGN) had its price target cut by The Goldman Sachs Group from $29.00 to $18.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on MYGN. Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $21.00 in a report on Monday, December 9th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Bank of America cut their price objective on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a report on Friday, December 13th. Finally, Stephens reaffirmed 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, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.83.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN opened at $12.50 on Tuesday. Myriad Genetics has a 1 year low of $12.04 and a 1 year high of $29.30. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.62 and a beta of 1.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company’s 50 day simple moving average is $14.24 and its 200 day simple moving average is $21.22.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $213.30 million during the quarter, compared to the consensus estimate of $209.82 million. During the same quarter in the previous year, the business posted ($0.17) EPS. As a group, research analysts predict that Myriad Genetics will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MYGN. Nordea Investment Management AB boosted its stake in shares of Myriad Genetics by 117.0% in the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock valued at $4,548,000 after purchasing an additional 179,527 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Myriad Genetics in the third quarter valued at $1,965,000. Maven Securities LTD bought a new stake in Myriad Genetics during the second quarter valued at $1,223,000. Barclays PLC grew its holdings in Myriad Genetics by 136.9% during the 3rd quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after acquiring an additional 109,931 shares during the period. Finally, Simplify Asset Management Inc. bought a new position in shares of Myriad Genetics in the 3rd quarter worth about $4,756,000. 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.