Stephens Reaffirms Equal Weight Rating for Myriad Genetics (NASDAQ:MYGN)

Myriad Genetics (NASDAQ:MYGN - Get Free Report)'s stock had its "equal weight" rating reaffirmed by Stephens in a note issued to investors on Thursday,Benzinga reports. They presently have a $20.00 target price on the stock. Stephens' price target indicates a potential upside of 61.42% from the stock's previous close.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, November 11th. StockNews.com raised shares of Myriad Genetics from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th. Leerink Partnrs lowered shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. Leerink Partners cut Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Finally, Morgan Stanley decreased their price target on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $23.92.

Myriad Genetics Stock Performance

MYGN stock traded down $0.13 during trading on Thursday, reaching $12.39. 932,807 shares of the company's stock were exchanged, compared to its average volume of 945,101. Myriad Genetics has a 1-year low of $12.17 and a 1-year high of $29.30. The firm has a market cap of $1.13 billion, a PE ratio of -9.53 and a beta of 1.89. The company's fifty day moving average price is $14.78 and its 200-day moving average price is $21.97. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Myriad Genetics during the third quarter valued at approximately $32,000. GAMMA Investing LLC boosted its position in 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 acquiring an additional 412 shares during the period. Point72 DIFC Ltd purchased a new position in Myriad Genetics during the 2nd quarter valued at about $60,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock valued at $87,000 after purchasing an additional 583 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Myriad Genetics in the second quarter worth approximately $82,000. 99.02% of the stock is 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.