Myriad Genetics (NASDAQ:MYGN) Raised to “Buy” at StockNews.com

Myriad Genetics (NASDAQ:MYGN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages also recently weighed in on MYGN. Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group dropped their target price on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and an average price target of $21.89.

Myriad Genetics Stock Down 2.5 %

Shares of NASDAQ MYGN traded down $0.25 during mid-day trading on Tuesday, hitting $9.73. 583,015 shares of the stock traded hands, compared to its average volume of 853,376. The company has a market cap of $888.44 million, a price-to-earnings ratio of -7.48 and a beta of 1.79. The stock has a fifty day moving average price of $11.97 and a 200-day moving average price of $16.80. Myriad Genetics has a 52 week low of $9.36 and a 52 week high of $29.30. 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 (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The business had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter last year, the firm posted ($0.12) EPS. Research analysts anticipate that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $32,000. Sterling Capital Management LLC lifted its holdings in Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock valued at $39,000 after acquiring an additional 2,556 shares during the period. KBC Group NV boosted its position in Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Myriad Genetics in the 3rd quarter worth approximately $153,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

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.