Myriad Genetics (NASDAQ:MYGN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a buy rating in a research report report published on Thursday.

Several other research analysts have also recently weighed in on the company. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $30.00 to $21.00 in a research report on Monday, December 9th. Piper Sandler cut their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Bank of America decreased their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research note on Friday, December 13th. UBS Group initiated coverage on shares of Myriad Genetics in a research report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, Morgan Stanley decreased their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.27.

Myriad Genetics Price Performance

Shares of MYGN opened at $14.78 on Thursday. The company has a market capitalization of $1.35 billion, a P/E ratio of -11.37 and a beta of 1.89. The business’s 50-day moving average is $15.19 and its two-hundred day moving average is $22.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics has a fifty-two week low of $12.87 and a fifty-two week high of $29.30.

Institutional Trading of Myriad Genetics

A number of institutional investors have recently made changes to their positions in MYGN. State Street Corp raised its stake in Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after purchasing an additional 359,685 shares during the last quarter. Earnest Partners LLC raised its position in shares of Myriad Genetics by 3.5% in the second quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock valued at $99,602,000 after buying an additional 138,960 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Myriad Genetics by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock valued at $67,924,000 after buying an additional 75,445 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Myriad Genetics by 21.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after buying an additional 440,107 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Myriad Genetics by 5.4% during the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock worth $59,125,000 after acquiring an additional 124,007 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

About Myriad Genetics

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.