Myriad Genetics (NASDAQ:MYGN) Downgraded by StockNews.com to Hold

Myriad Genetics (NASDAQ:MYGN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other research analysts have also commented on MYGN. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. Craig Hallum initiated coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price on the stock. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group initiated coverage on Myriad Genetics in a research note on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price target for the company. Finally, Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.54.

Myriad Genetics Stock Up 0.5 %

Myriad Genetics stock traded up $0.08 during trading hours on Thursday, hitting $14.98. The company had a trading volume of 1,218,553 shares, compared to its average volume of 1,094,211. Myriad Genetics has a fifty-two week low of $12.04 and a fifty-two week high of $29.30. 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 market capitalization of $1.36 billion, a P/E ratio of -11.52 and a beta of 1.88. The firm’s fifty day moving average is $13.46 and its 200-day moving average is $19.65.

Institutional Trading of Myriad Genetics

Several institutional investors and hedge funds have recently made changes to their positions in MYGN. Nordea Investment Management AB lifted its stake in Myriad Genetics by 117.0% in the fourth quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock valued at $4,548,000 after buying an additional 179,527 shares during the period. Jennison Associates LLC raised its position in shares of Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock valued at $809,000 after acquiring an additional 34,853 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Myriad Genetics during the third quarter valued at approximately $1,965,000. Barclays PLC raised its holdings in Myriad Genetics by 136.9% in the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after purchasing an additional 109,931 shares during the period. Finally, Simplify Asset Management Inc. bought a new position in shares of Myriad Genetics during the third quarter worth $4,756,000. 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.