Myriad Genetics (NASDAQ:MYGN) Upgraded at StockNews.com

StockNews.com upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a buy rating in a report published on Tuesday.

Other research analysts have also issued reports about the company. UBS Group cut their price objective on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Raymond James reiterated an “outperform” rating and set a $19.00 target price (down from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Stephens restated an “equal weight” rating and issued a $20.00 price target on shares of Myriad Genetics in a report on Thursday, January 16th. Piper Sandler upgraded shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Finally, Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.89.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $9.22 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics has a 1-year low of $9.18 and a 1-year high of $29.30. The firm has a market capitalization of $841.87 million, a P/E ratio of -7.09 and a beta of 1.79. The business’s 50-day simple moving average is $11.83 and its 200-day simple moving average is $16.70.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same period last year, the firm earned ($0.12) earnings per share. Equities analysts predict that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Trading of Myriad Genetics

Several hedge funds and other institutional investors have recently bought and sold shares of MYGN. Vanguard Group Inc. lifted its holdings in Myriad Genetics by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock worth $145,203,000 after buying an additional 279,379 shares during the last quarter. State Street Corp boosted its holdings in Myriad Genetics by 8.3% in the third quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after purchasing an additional 359,685 shares during the period. Earnest Partners LLC increased its stake in Myriad Genetics by 0.4% during the fourth quarter. Earnest Partners LLC now owns 3,971,598 shares of the company’s stock valued at $54,451,000 after purchasing an additional 15,650 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Myriad Genetics by 13.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock worth $37,932,000 after purchasing an additional 336,770 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after buying an additional 440,107 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

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.