Craig Hallum Initiates Coverage on Myriad Genetics (NASDAQ:MYGN)

Stock analysts at Craig Hallum assumed coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $29.00 price target on the stock. Craig Hallum’s price target would indicate a potential upside of 97.95% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Piper Sandler lowered their price objective on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Stephens reiterated an “equal weight” rating and set a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their target price on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, Bank of America reduced their target price on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.54.

Myriad Genetics Stock Up 11.9 %

Shares of NASDAQ:MYGN opened at $14.65 on Wednesday. The stock has a fifty day simple moving average of $13.47 and a two-hundred day simple moving average of $20.10. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -11.27 and a beta of 1.88. Myriad Genetics has a 12-month low of $12.04 and a 12-month high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

Institutional Trading of Myriad Genetics

Several large investors have recently modified their holdings of MYGN. Point72 Hong Kong Ltd bought a new stake in shares of Myriad Genetics in the third quarter worth $32,000. Sterling Capital Management LLC grew its holdings in shares of Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after acquiring an additional 2,556 shares during the period. GAMMA Investing LLC grew its holdings in shares of Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after acquiring an additional 412 shares during the period. KBC Group NV grew its holdings in shares of 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 acquiring an additional 3,334 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Myriad Genetics by 21.6% during 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 in the last quarter. 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.