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 released on Thursday.

Other research analysts also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock 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 reduced their price objective 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. Bank of America cut their price target on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a report on Friday, December 13th. Finally, Piper Sandler decreased their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.27.

Myriad Genetics Price Performance

MYGN opened at $14.78 on Thursday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -11.37 and a beta of 1.89. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 12-month low of $12.87 and a 12-month high of $29.30. The business’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $22.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics during the third quarter valued at $32,000. GAMMA Investing LLC grew its stake in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after purchasing an additional 412 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Myriad Genetics during the 2nd quarter valued at about $60,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Myriad Genetics by 21.6% in the third 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 period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Myriad Genetics in the second quarter worth about $82,000. Hedge funds and other 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.