Myriad Genetics (NASDAQ:MYGN) Earns Buy Rating from Analysts at Craig Hallum

Equities research analysts at Craig Hallum assumed coverage on shares of Myriad Genetics (NASDAQ:MYGN - Get Free Report) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $29.00 price target on the stock. Craig Hallum's target price suggests a potential upside of 99.18% from the company's current price.

A number of other research firms have also issued reports on MYGN. Leerink Partnrs lowered Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. UBS Group began coverage on Myriad Genetics in a research note on Tuesday, December 10th. They issued a "neutral" rating and a $18.00 target price on the stock. Stephens reaffirmed an "equal weight" rating and issued a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Leerink Partners lowered Myriad Genetics from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, The Goldman Sachs Group cut their price target on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.54.

Myriad Genetics Price Performance

MYGN stock traded down $0.09 on Wednesday, reaching $14.56. The company had a trading volume of 1,196,936 shares, compared to its average volume of 1,074,972. Myriad Genetics has a 1 year low of $12.04 and a 1 year high of $29.30. 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 company's fifty day moving average is $13.46 and its 200 day moving average is $19.95. The company has a market cap of $1.33 billion, a P/E ratio of -11.20 and a beta of 1.88.

Institutional Trading of Myriad Genetics

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Myriad Genetics during the 3rd quarter worth $32,000. Sterling Capital Management LLC increased its holdings in shares of Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after buying an additional 2,556 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock worth $44,000 after buying an additional 412 shares during the last quarter. KBC Group NV increased its holdings in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after buying an additional 3,334 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock worth $87,000 after buying an additional 583 shares during the last quarter. 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.