Myriad Genetics (NASDAQ:MYGN) Now Covered by Analysts at Craig Hallum

Craig Hallum began coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a research report report published on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $29.00 target price on the stock.

A number of other analysts have also recently weighed in on MYGN. Bank of America decreased their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research note on Friday, December 13th. Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Piper Sandler reduced their price target on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Finally, Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $22.54.

Myriad Genetics Trading Down 0.6 %

MYGN opened at $14.56 on Wednesday. The company has a market cap of $1.33 billion, a P/E ratio of -11.20 and a beta of 1.88. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $13.46 and its 200-day moving average is $20.01. Myriad Genetics has a 1-year low of $12.04 and a 1-year high of $29.30.

Hedge Funds Weigh In On Myriad Genetics

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of 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 during the period. Atria Investments Inc grew its stake in Myriad Genetics by 5.4% in the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after acquiring an additional 581 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $87,000 after acquiring an additional 583 shares in the last quarter. Creative Planning raised its position in shares of Myriad Genetics by 9.8% during the third quarter. Creative Planning now owns 9,949 shares of the company’s stock worth $273,000 after purchasing an additional 892 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Myriad Genetics in the 3rd quarter worth $32,000. 99.02% of the stock is owned by institutional investors and hedge funds.

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.