StockNews.com Upgrades Myriad Genetics (NASDAQ:MYGN) to “Buy”

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

MYGN has been the subject of several other reports. Bank of America lowered 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. UBS Group started coverage on Myriad Genetics in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company. Morgan Stanley cut their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $24.27.

Myriad Genetics Stock Up 3.4 %

Shares of NASDAQ:MYGN traded up $0.48 during midday trading on Thursday, hitting $14.78. 929,057 shares of the company’s stock were exchanged, compared to its average volume of 837,651. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics has a 12 month low of $12.87 and a 12 month high of $29.30. The company has a market cap of $1.35 billion, a PE ratio of -11.37 and a beta of 1.89. The stock has a 50 day moving average price of $15.19 and a 200-day moving average price of $22.35.

Insider Transactions at Myriad Genetics

In related news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently added to or reduced their stakes in MYGN. Point72 Hong Kong Ltd bought a new stake in shares of Myriad Genetics in the third quarter valued at approximately $32,000. GAMMA Investing LLC grew its stake in Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after buying an additional 412 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Myriad Genetics during the 2nd quarter valued at $60,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 worth $87,000 after acquiring an additional 583 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Myriad Genetics in the second quarter worth $82,000. 99.02% of the stock is owned by hedge funds and other 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.