Myriad Genetics (NASDAQ:MYGN) Stock Rating Upgraded by StockNews.com

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

A number of other equities research analysts have also recently commented on the stock. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Morgan Stanley reduced their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Piper Sandler dropped their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Bank of America reduced their price objective on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research note on Friday, December 13th. Finally, UBS Group began coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 target price on the stock. Three research 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.com, the company currently has an average rating of “Hold” and a consensus target price of $24.27.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $14.83 on Thursday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -11.41 and a beta of 1.89. Myriad Genetics has a 52-week low of $12.87 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. The stock’s 50 day moving average price is $15.12 and its two-hundred day moving average price is $22.26.

Hedge Funds Weigh In On Myriad Genetics

Large investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D purchased a new stake in shares of Myriad Genetics in the third quarter valued at about $1,965,000. Nordea Investment Management AB increased its stake in Myriad Genetics by 117.0% in the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock valued at $4,548,000 after buying an additional 179,527 shares during the last quarter. Maven Securities LTD bought a new position in shares of Myriad Genetics during the 2nd quarter worth approximately $1,223,000. Barclays PLC boosted its stake in shares of Myriad Genetics by 136.9% in the 3rd quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after buying an additional 109,931 shares during the last quarter. Finally, Simplify Asset Management Inc. bought a new position in shares of Myriad Genetics in the third quarter valued at approximately $4,756,000. 99.02% of the stock is currently owned by institutional investors.

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.