Myriad Genetics (NASDAQ:MYGN) Stock Rating Lowered by Leerink Partnrs

Myriad Genetics (NASDAQ:MYGN) was downgraded by stock analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on MYGN. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company started coverage on Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target for the company. UBS Group started coverage on Myriad Genetics in a research note on Tuesday. They issued a “neutral” rating and a $18.00 price objective on the stock. Scotiabank upped their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley dropped their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.42.

Myriad Genetics Price Performance

Shares of MYGN opened at $14.88 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market cap of $1.35 billion, a PE ratio of -11.45 and a beta of 1.88. The firm’s 50 day moving average price is $19.78 and its 200 day moving average price is $23.81. Myriad Genetics has a twelve month low of $14.34 and a twelve month high of $29.30.

Insider Transactions at Myriad Genetics

In related news, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Myriad Genetics

A number of hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Myriad Genetics during the 3rd quarter worth about $32,000. Innealta Capital LLC bought a new position in Myriad Genetics in the 2nd quarter valued at $36,000. GAMMA Investing LLC boosted its stake in Myriad Genetics by 34.1% in 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 in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Myriad Genetics during the second quarter worth $60,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Myriad Genetics in the second quarter valued at about $82,000. Institutional investors and hedge funds 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.