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

Myriad Genetics (NASDAQ:MYGN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other brokerages have also recently weighed in on MYGN. Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 13th. Morgan Stanley assumed coverage on Myriad Genetics in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 target price for the company. TD Cowen upped their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.36.

Myriad Genetics Stock Performance

NASDAQ MYGN traded down $1.14 on Tuesday, hitting $16.17. 1,104,232 shares of the company’s stock were exchanged, compared to its average volume of 733,353. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The firm’s 50-day moving average price is $24.32 and its two-hundred day moving average price is $24.77. Myriad Genetics has a fifty-two week low of $16.10 and a fifty-two week high of $29.30. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -12.44 and a beta of 1.93.

Insider Buying and Selling at Myriad Genetics

In other news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the sale, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,012 shares of company stock worth $1,900,485. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Myriad Genetics

A number of institutional investors have recently modified their holdings of MYGN. Hexagon Capital Partners LLC raised its holdings in Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after buying an additional 491 shares during the last quarter. Innealta Capital LLC acquired a new position in Myriad Genetics during the second quarter worth $36,000. GAMMA Investing LLC raised its holdings in shares of Myriad Genetics by 34.1% in the third 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 last quarter. Point72 DIFC Ltd purchased a new stake in shares of Myriad Genetics in the second quarter valued at about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Myriad Genetics during the second quarter worth about $82,000. 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.