Myriad Genetics’ (MYGN) Outperform Rating Reiterated at Raymond James

On February 27, 2025, investment analysts at Raymond James reaffirmed their "outperform" rating for Myriad Genetics (NASDAQ:MYGN) in a note shared with investors. The firm set a price target of $19.00 for the stock, which is a reduction from their previous target of $27.00. This new price target implies a potential upside of 64.36% based on the current stock price.

Other financial analysts have also recently shared their views on the performance of Myriad Genetics. Morgan Stanley lowered their price target from $32.00 to $21.00, assigning an "equal weight" rating on November 18. StockNews.com changed their rating from "buy" to "hold" on February 20. Similarly, Stephens maintained an "equal weight" rating while setting a price target of $20.00 on January 16. The Goldman Sachs Group also lowered their target for the stock from $29.00 to $18.00 while maintaining a "buy" rating as of January 28. Additionally, Craig Hallum initiated coverage with a "buy" rating and a price target of $29.00 on February 12. Overall, reports show that three analysts rated the stock as a sell, eight issued a hold rating, and five gave it a buy rating. MarketBeat.com indicates that the average rating for MYGN is currently "Hold" with a consensus price target of $22.14.

Myriad Genetics Price Overview

The stock opened at $11.56 on Tuesday, and the company holds a market capitalization of $1.05 billion. Myriad Genetics has a P/E ratio of -8.89 and a beta of 1.88. The stock has a 50-day moving average of $13.37 and a 200-day moving average of $19.21. Financial ratios indicate a debt-to-equity ratio of 0.05, a quick ratio of 1.73, and a current ratio of 1.90. Over the past fifty-two weeks, shares of Myriad Genetics have reached a low of $9.76 and a high of $29.30.

Recently, Myriad Genetics released its quarterly earnings results on February 25, revealing an earnings per share (EPS) of ($0.09), which fell short of analysts’ expectations of $0.03 by $0.12. The company's revenue for the quarter was $210.60 million, slightly exceeding the consensus estimate of $210.35 million. Myriad reported a negative net margin of 14.09% and a negative return on equity of 4.51%. In the same quarter last year, the EPS was ($0.12). Analysts predict Myriad Genetics will report an EPS of -0.30 for the current year.

Investors and Shareholding Trends

Recent trading activity shows that large investors have significantly adjusted their positions in Myriad Genetics. For instance, Nordea Investment Management AB raised its stake in the company by 117% during the fourth quarter, resulting in ownership of 332,913 shares worth approximately $4.55 million. Similarly, Jennison Associates LLC boosted their shares by 144.2% in the same quarter, now holding 59,015 shares valued at around $809,000. Furthermore, the State of New Jersey Common Pension Fund D added a new stake worth about $1.97 million in the third quarter.

Barclays PLC also increased their holdings in Myriad Genetics by 136.9%, now owning 190,243 shares after a rise of 109,931 shares during the last quarter. Simplify Asset Management Inc. bought new shares valued at roughly $4.76 million in the third quarter. Data indicates that 99.02% of the company’s shares are owned by hedge funds and institutional investors.

About Myriad Genetics

Myriad Genetics, Inc. is a biotechnology company that specializes in genetic testing and precision medicine. The firm develops genetic tests both in the United States and internationally. They offer a range of molecular diagnostic tests, including tests for oncology, women's health, and pharmacogenomics. Among their products is the MyRisk Hereditary Cancer Test, which assesses hereditary cancer risks through DNA sequencing.

Myriad, Genetics, Stocks