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 report released on Tuesday morning.

Several other research analysts have also commented on MYGN. Stephens reissued an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research report on Thursday, January 16th. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Raymond James reissued an “outperform” rating and set a $19.00 price target (down from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. Craig Hallum started coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Bank of America reduced their target price on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Monday, March 3rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.89.

Myriad Genetics Stock Down 2.5 %

MYGN opened at $9.73 on Tuesday. Myriad Genetics has a 1 year low of $9.36 and a 1 year high of $29.30. The firm has a 50 day moving average price of $11.97 and a 200 day moving average price of $16.80. 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 company has a market cap of $888.44 million, a PE ratio of -7.48 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. During the same period in the previous year, the company earned ($0.12) EPS. Sell-side analysts expect that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Myriad Genetics

Several large investors have recently added to or reduced their stakes in MYGN. Point72 Hong Kong Ltd acquired a new position in shares of Myriad Genetics during the third quarter valued at $32,000. Sterling Capital Management LLC increased its holdings in shares of Myriad Genetics by 829.9% in the 4th 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. KBC Group NV lifted its position in Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the period. Finally, Quantbot Technologies LP bought a new position in Myriad Genetics in the 3rd quarter worth about $153,000. 99.02% of the stock is owned by institutional investors and hedge funds.

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.