Craig-Hallum analyst Bill Bonello lowered the firm’s price target on Myriad Genetics (MYGN) to $18 from $29 and keeps a Buy rating on the shares. The firm says shares are down another 20% following a 2% top line miss and a 4% reduction in guidance. While both results were unexpected, and it does look like the path back to growth will be more challenging than anticipated, Craig-Hallum believes the current valuation appears disconnected from the longer-term earnings power.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MYGN:
- Myriad Genetics price target lowered to $7 from $16 at UBS
- Myriad Genetics price target lowered to $10 from $19 at Raymond James
- Wells downgrades Myriad Genetics, sees ‘show-me story’ after miss
- Myriad Genetics downgraded to Equal Weight from Overweight at Wells Fargo
- Myriad Genetics Reports Mixed Q1 2025 Results