Myriad Genetics (NASDAQ:MYGN) Receives “Equal Weight” Rating from Stephens

Myriad Genetics (NASDAQ:MYGN)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $20.00 price target on the stock. Stephens’ target price indicates a potential upside of 61.42% from the company’s current price.

Several other brokerages have also commented on MYGN. UBS Group started coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price objective for the company. Morgan Stanley lowered their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. 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 report on Friday, December 13th. Finally, Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.92.

Myriad Genetics Stock Down 1.0 %

Shares of NASDAQ MYGN opened at $12.39 on Thursday. The firm has a fifty day simple moving average of $14.68 and a two-hundred day simple moving average of $21.89. Myriad Genetics has a 12 month low of $12.17 and a 12 month high of $29.30. 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 firm has a market capitalization of $1.13 billion, a PE ratio of -9.53 and a beta of 1.89.

Hedge Funds Weigh In On Myriad Genetics

Several hedge funds and other 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 3rd quarter worth $32,000. GAMMA Investing LLC boosted its position in shares of Myriad Genetics by 34.1% during the third 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 last quarter. Point72 DIFC Ltd bought a new stake in Myriad Genetics in the 2nd quarter worth about $60,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Myriad Genetics in the 2nd quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $87,000 after buying an additional 583 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

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.