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

Myriad Genetics (NASDAQ:MYGN) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley lowered 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. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. UBS Group started coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Piper Sandler dropped their target price on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Myriad Genetics has an average rating of “Hold” and an average target price of $24.27.

Myriad Genetics Price Performance

Shares of MYGN stock traded up $0.48 on Thursday, hitting $14.78. 929,057 shares of the company’s stock were exchanged, compared to its average volume of 837,651. The company has a 50 day moving average of $15.19 and a 200 day moving average of $22.35. The stock has a market cap of $1.35 billion, a P/E ratio of -11.37 and a beta of 1.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics has a 12 month low of $12.87 and a 12 month high of $29.30.

Insider Activity

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Several hedge funds have recently modified their holdings of MYGN. Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics in the third quarter worth $32,000. GAMMA Investing LLC grew its stake in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after buying an additional 412 shares during the period. Point72 DIFC Ltd bought a new stake in Myriad Genetics in the 2nd quarter valued at about $60,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Myriad Genetics during the 2nd quarter worth approximately $82,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after buying an additional 583 shares during the period. Institutional investors own 99.02% of the company’s stock.

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.