Myriad Genetics (NASDAQ:MYGN) Coverage Initiated at Craig Hallum

Research analysts at Craig Hallum started coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $29.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 97.95% from the company’s current price.

Several other brokerages have also commented on MYGN. Bank of America reduced their price objective 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. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Morgan Stanley reduced their price target on 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. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of Myriad Genetics in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group reduced their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.54.

Myriad Genetics Price Performance

Shares of Myriad Genetics stock opened at $14.65 on Wednesday. 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 $1.33 billion, a PE ratio of -11.27 and a beta of 1.88. The business’s 50-day moving average price is $13.47 and its 200-day moving average price is $20.10. Myriad Genetics has a 12 month low of $12.04 and a 12 month high of $29.30.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new position in shares of Myriad Genetics in the 3rd quarter valued at approximately $32,000. Sterling Capital Management LLC lifted its stake in shares of Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock valued at $39,000 after purchasing an additional 2,556 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 412 shares during the period. KBC Group NV lifted its stake in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 purchasing an additional 583 shares during the period. Hedge funds and other 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.