Myriad Genetics’ (MYGN) “Equal Weight” Rating Reaffirmed at Stephens

Myriad Genetics (NASDAQ:MYGN)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $20.00 price target on the stock. Stephens’ price target points to a potential upside of 60.90% from the stock’s previous close.

A number of other brokerages have also issued reports on MYGN. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Piper Sandler decreased their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley cut their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.92.

Myriad Genetics Stock Performance

Myriad Genetics stock traded down $0.72 during mid-day trading on Thursday, reaching $12.43. 228,552 shares of the company were exchanged, compared to its average volume of 839,636. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm’s 50-day simple moving average is $14.89 and its two-hundred day simple moving average is $22.04. Myriad Genetics has a twelve month low of $12.17 and a twelve month high of $29.30. The firm has a market cap of $1.13 billion, a PE ratio of -9.56 and a beta of 1.89.

Institutional Trading of Myriad Genetics

Several large investors have recently modified their holdings of MYGN. Point72 Hong Kong Ltd purchased a new stake in Myriad Genetics in the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC lifted its position in shares of Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Myriad Genetics during the second quarter valued at $60,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Myriad Genetics during the second quarter valued at $82,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.