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

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

A number of other analysts also recently issued reports on MYGN. UBS Group assumed coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price objective for the company. Bank of America dropped their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, December 13th. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. The Goldman Sachs Group cut their price objective on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Piper Sandler dropped their target price on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Three 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.54.

Myriad Genetics Stock Performance

Myriad Genetics stock opened at $13.09 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a 50 day simple moving average of $13.51 and a 200-day simple moving average of $20.14. Myriad Genetics has a 1-year low of $12.04 and a 1-year high of $29.30.

Institutional Investors Weigh In On Myriad Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of MYGN. Sanctuary Advisors LLC purchased a new stake in Myriad Genetics during the 2nd quarter worth about $537,000. GAMMA Investing LLC lifted its stake in Myriad Genetics by 34.1% during 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 last quarter. Creative Planning lifted its stake in 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 last quarter. Inspire Advisors LLC acquired a new position in Myriad Genetics in the third quarter valued at approximately $208,000. Finally, OmniStar Financial Group Inc. acquired a new stake in Myriad Genetics during the third quarter worth approximately $863,000. 99.02% of the stock is currently 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.