Myriad Genetics (NASDAQ:MYGN) Price Target Cut to $24.00 by Analysts at Piper Sandler

Myriad Genetics (NASDAQ:MYGN) had its price objective decreased by equities research analysts at Piper Sandler from $30.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 37.85% from the stock’s previous close.

MYGN has been the topic of several other reports. TD Cowen upped their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Company began coverage on Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective for the company. Morgan Stanley assumed coverage on Myriad Genetics in a report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.36.

Myriad Genetics Stock Down 1.5 %

MYGN opened at $17.41 on Monday. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.58 billion, a PE ratio of -13.39 and a beta of 1.93. The firm has a 50-day simple moving average of $24.54 and a two-hundred day simple moving average of $24.78. Myriad Genetics has a 52 week low of $15.99 and a 52 week high of $29.30.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the sale, the director now owns 121,648 shares in the company, valued at approximately $3,290,578.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,012 shares of company stock worth $1,900,485 over the last three months. 2.10% of the stock is owned by insiders.

Institutional Trading of Myriad Genetics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Myriad Genetics by 90.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock valued at $188,000 after acquiring an additional 4,193 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Myriad Genetics by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock worth $1,652,000 after buying an additional 889 shares during the period. Swiss National Bank grew its stake in Myriad Genetics by 8.2% in the first quarter. Swiss National Bank now owns 174,700 shares of the company’s stock valued at $3,725,000 after acquiring an additional 13,300 shares during the period. ProShare Advisors LLC raised its holdings in shares of Myriad Genetics by 14.2% in the first 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 during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Myriad Genetics by 8.9% during 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 acquiring an additional 2,050 shares during the period. 99.02% of the stock is currently 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.