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

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

A number of other equities research analysts have also recently issued reports on MYGN. Morgan Stanley dropped their target price 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. UBS Group initiated coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 target price for the company. Bank of America dropped their price target on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, December 13th. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Piper Sandler lowered their target price 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 investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.27.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN opened at $14.83 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The business’s fifty day moving average price is $15.19 and its two-hundred day moving average price is $22.35. Myriad Genetics has a fifty-two week low of $12.87 and a fifty-two week high of $29.30. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -11.41 and a beta of 1.89.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in Myriad Genetics by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 283,435 shares of the company’s stock worth $6,933,000 after acquiring an additional 6,761 shares during the period. Arizona State Retirement System increased its holdings in Myriad Genetics by 3.4% in the second quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock valued at $615,000 after purchasing an additional 829 shares during the last quarter. Quest Partners LLC lifted its stake in Myriad Genetics by 10,724.5% in the second quarter. Quest Partners LLC now owns 5,304 shares of the company’s stock valued at $130,000 after buying an additional 5,255 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Myriad Genetics by 13.9% during the second quarter. Texas Permanent School Fund Corp now owns 88,278 shares of the company’s stock worth $2,159,000 after buying an additional 10,793 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Myriad Genetics during the 2nd quarter worth about $162,000. 99.02% of the stock is owned by institutional investors.

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.