Myriad Genetics price target lowered to $19 from $27 at Raymond James

Raymond James analyst Andrew Cooper lowered the firm’s price target on Myriad Genetics (MYGN) to $19 from $27 and keeps an Outperform rating on the shares. Myriad’s Q4 print aligned with the preannouncement and the company reiterated guidance from the same time, but the bigger news was the departure of CEO Paul Diaz for a private equity role, and verbally confirming a low density lipoprotein receptor-related protein goal lowered back to “double digits,” the analyst tells investors in a research note. The firm expects a “fairly smooth” transition to incoming CEO Sam Raha, though it is a “complex” time.