Bank of America has adjusted its outlook on Myriad Genetics (MYGN, Financial), reducing the company's price target to $9 from a previous $11. This revision is accompanied by the bank maintaining an Underperform rating on the company's shares.
The decision reflects a growing sense of negativity surrounding the Life Sciences and Diagnostics sector. There are several key factors contributing to this sentiment, particularly as companies in this field are significantly impacted by current policy shifts. These include budget reductions at the National Institutes of Health (NIH), newly imposed global tariffs, and broader economic uncertainties, with a specific focus on challenges related to China.
As these companies approach their earnings reports, these policy changes and their potential effects are weighing heavily on investor confidence, leading to a more cautious stance from financial analysts.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for Myriad Genetics Inc (MYGN, Financial) is $16.37 with a high estimate of $29.00 and a low estimate of $8.00. The average target implies an upside of 104.46% from the current price of $8.01. More detailed estimate data can be found on the Myriad Genetics Inc (MYGN) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, Myriad Genetics Inc's (MYGN, Financial) average brokerage recommendation is currently 2.8, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Myriad Genetics Inc (MYGN, Financial) in one year is $23.23, suggesting a upside of 190.19% from the current price of $8.005. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Myriad Genetics Inc (MYGN) Summary page.
