Myriad Genetics price target lowered to $13 from $15 at BofA

BofA analyst Michael Ryskin lowered the firm’s price target on Myriad Genetics (MYGN) to $13 from $15 and keeps an Underperform rating on the shares. The Life Sciences Tools sector underperformed again in FY24 as Pharma and Biotech customers reined in spending after overspending during the pandemic and China remained “very subdued,” the analyst tells investors. Entering 2025, “the setup is almost identical, so there is a healthy dose of skepticism among investors who have been burned over the past year,” says the firm, which adds that thinks “there are finally some encouraging signs on the horizon.” In conjunction with its year ahead preview for the group, the firm adjusted a number of price targets.