Wells Fargo & Company Cuts Myriad Genetics (NASDAQ:MYGN) Price Target to $6.00

Myriad Genetics (NASDAQ:MYGN) had its price target lowered by Wells Fargo & Company from $6.50 to $6.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 28.34% from the company’s current price.

MYGN has been the subject of several other research reports. Piper Sandler cut their price objective on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. TD Cowen reissued a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th. UBS Group restated a “neutral” rating and set a $6.00 price objective on shares of Myriad Genetics in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday, December 29th. Finally, Zacks Research cut Myriad Genetics from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.17.

Myriad Genetics Price Performance

Shares of MYGN traded up $0.30 during mid-day trading on Tuesday, reaching $4.68. 1,452,565 shares of the stock traded hands, compared to its average volume of 1,013,648. The company has a market cap of $435.76 million, a price-to-earnings ratio of -1.07 and a beta of 1.90. Myriad Genetics has a 1 year low of $3.76 and a 1 year high of $12.28. The firm has a fifty day moving average price of $5.78 and a 200 day moving average price of $6.64. The company has a current ratio of 2.33, a quick ratio of 2.12 and a debt-to-equity ratio of 0.32.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. Myriad Genetics had a negative return on equity of 7.11% and a negative net margin of 48.53%.The company had revenue of $209.80 million during the quarter, compared to analyst estimates of $207.57 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts predict that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Trading of Myriad Genetics

A number of institutional investors have recently made changes to their positions in MYGN. Baird Financial Group Inc. bought a new stake in Myriad Genetics in the 1st quarter worth $105,000. Royal Bank of Canada grew its stake in shares of Myriad Genetics by 82.4% in the first quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock worth $296,000 after purchasing an additional 15,057 shares during the last quarter. AQR Capital Management LLC raised its position in Myriad Genetics by 278.9% during the 1st quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock valued at $3,844,000 after purchasing an additional 319,007 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Myriad Genetics by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock valued at $2,654,000 after purchasing an additional 14,027 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Myriad Genetics by 1,076.9% in the 1st quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock worth $1,897,000 after buying an additional 195,658 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

More Myriad Genetics News

Here are the key news stories impacting Myriad Genetics this week:

• Positive Sentiment: Q4 earnings and revenue beat consensus — Myriad reported $0.04 EPS (vs. a loss expected) and revenue slightly above forecasts, driving the initial market rally. Read More.
• Positive Sentiment: Q1 outlook points to revenue growth — Management sees Q1 revenue rising roughly 2%–4% year‑over‑year, which supports near‑term top‑line momentum. Read More.
• Neutral Sentiment: Company reiterated FY2026 revenue guidance — Myriad reaffirmed its FY2026 revenue range (~$860M–$880M), signaling management confidence but not an upgrade to guidance. Read More.
• Neutral Sentiment: Earnings call and materials available for detail — The transcript and slide deck provide more color on segment trends, cash flow and the drivers behind the beat; investors should review management’s commentary on reimbursement and product mix. Read More.
• Negative Sentiment: Gross margin pressure and weaker mental-health test sales — Coverage highlights a slip in gross margin and a decline in mental-health business, which temper the positive headline beat. Read More.
• Negative Sentiment: Analyst skepticism: BofA reiterates Sell — Bank of America kept a Sell rating and $4 price target citing execution and reimbursement risks, a counterweight to today’s rally. Read More.
• Negative Sentiment: Mixed third‑party earnings reports/interpretations — Some outlets reported weaker operating results and data discrepancies that could fuel volatility until filings/call details are fully parsed. Read More.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.