Myriad Genetics (NASDAQ:MYGN) Cut to Peer Perform at Wolfe Research

Wolfe Research cut shares of Myriad Genetics (NASDAQ:MYGN) from an outperform rating to a peer perform rating in a research note issued to investors on Thursday morning, Marketbeat reports.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. Craig Hallum set a $18.00 target price on shares of Myriad Genetics and gave the company a “buy” rating in a research report on Wednesday. Raymond James reiterated an “outperform” rating and set a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a report on Wednesday. Bank of America cut their price objective on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday, March 3rd. Finally, Scotiabank lowered their target price on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 1st. Three investment 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. According to data from MarketBeat, Myriad Genetics has a consensus rating of “Hold” and an average target price of $16.04.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock opened at $3.89 on Thursday. The company has a 50 day moving average of $8.35 and a 200-day moving average of $12.50. The company has a market cap of $358.55 million, a PE ratio of -2.99 and a beta of 2.01. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 1-year low of $3.86 and a 1-year high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The firm had revenue of $195.90 million for the quarter, compared to the consensus estimate of $200.37 million. During the same quarter last year, the business posted ($0.01) EPS. The company’s revenue was down 33.6% compared to the same quarter last year. As a group, equities research analysts forecast that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Myriad Genetics

Large investors have recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock valued at $39,000 after buying an additional 2,556 shares during the period. GAMMA Investing LLC lifted its stake in shares of Myriad Genetics by 520.8% in the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company’s stock valued at $40,000 after purchasing an additional 3,750 shares during the period. KBC Group NV lifted its stake in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares during the period. CWM LLC boosted its position in shares of Myriad Genetics by 600.2% during the 1st quarter. CWM LLC now owns 9,796 shares of the company’s stock valued at $87,000 after purchasing an additional 8,397 shares in the last quarter. Finally, M.E. Allison & CO. Inc. acquired a new stake in Myriad Genetics during the first quarter worth approximately $93,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

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.