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

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

MYGN has been the subject of several other reports. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Piper Sandler decreased their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Morgan Stanley lowered their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Bank of America reduced their price target on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research report on Friday, December 13th. Finally, Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $21.00 in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Myriad Genetics presently has an average rating of “Hold” and a consensus price target of $24.27.

Myriad Genetics Trading Up 0.3 %

Shares of NASDAQ MYGN opened at $14.83 on Thursday. The business has a 50 day simple moving average of $15.19 and a 200 day simple moving average of $22.35. Myriad Genetics has a 52 week low of $12.87 and a 52 week high of $29.30. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -11.41 and a beta of 1.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new stake in shares of Myriad Genetics in the 3rd quarter worth approximately $32,000. GAMMA Investing LLC lifted its position in 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 purchasing an additional 412 shares during the period. Point72 DIFC Ltd acquired a new stake in Myriad Genetics during the second quarter worth $60,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after buying an additional 583 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Myriad Genetics in the 2nd quarter valued at $82,000. 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.