StockNews.com Downgrades Myriad Genetics (NASDAQ:MYGN) to Hold

StockNews.com downgraded shares of Myriad Genetics (NASDAQ:MYGN) from a buy rating to a hold rating in a report released on Thursday.

Several other brokerages have also weighed in on MYGN. Craig Hallum began coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price on the stock. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. The Goldman Sachs Group dropped their price objective on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Bank of America decreased their target price on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. Finally, UBS Group began 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $22.54.

Myriad Genetics Stock Up 0.5 %

NASDAQ:MYGN opened at $14.98 on Thursday. The firm’s fifty day simple moving average is $13.46 and its 200-day simple moving average is $19.65. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. Myriad Genetics has a fifty-two week low of $12.04 and a fifty-two week high of $29.30.

Hedge Funds Weigh In On Myriad Genetics

Several institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning raised its holdings in Myriad Genetics by 9.8% in the 3rd quarter. Creative Planning now owns 9,949 shares of the company’s stock valued at $273,000 after acquiring an additional 892 shares during the last quarter. Blue Trust Inc. grew its position in shares of Myriad Genetics by 12.5% in the third quarter. Blue Trust Inc. now owns 12,663 shares of the company’s stock valued at $347,000 after purchasing an additional 1,404 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 buying an additional 583 shares during the period. Nisa Investment Advisors LLC lifted its position in Myriad Genetics by 182.9% during the third quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company’s stock worth $313,000 after buying an additional 7,381 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Myriad Genetics by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,468 shares of the company’s stock worth $478,000 after buying an additional 6,834 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

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.