StockNews.com Upgrades Myriad Genetics (NASDAQ:MYGN) to Buy

StockNews.com upgraded shares of Myriad Genetics (NASDAQ:MYGN - Free Report) from a hold rating to a buy rating in a research note released on Thursday morning.

Other equities analysts also recently issued reports about the company. Bank of America lowered their price objective on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Scotiabank decreased their target price on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 1st. Craig Hallum initiated coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They issued a "buy" rating and a $29.00 target price for the company. Finally, UBS Group cut their price objective on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Myriad Genetics currently has an average rating of "Hold" and an average target price of $20.89.

Myriad Genetics Trading Down 0.2 %

NASDAQ MYGN traded down $0.01 during trading hours on Thursday, reaching $8.07. The company had a trading volume of 49,991 shares, compared to its average volume of 897,992. Myriad Genetics has a 1-year low of $7.35 and a 1-year high of $29.30. The stock has a market capitalization of $736.50 million, a P/E ratio of -6.20 and a beta of 1.87. The stock has a 50-day moving average of $10.62 and a 200 day moving average of $14.78. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million during the quarter, compared to analysts' expectations of $210.35 million. During the same period in the prior year, the business earned ($0.12) EPS. As a group, research analysts anticipate that Myriad Genetics will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Myriad Genetics by 520.8% during the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after acquiring an additional 3,750 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Myriad Genetics by 43.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,229 shares of the company's stock worth $3,910,000 after acquiring an additional 86,973 shares during the period. Voloridge Investment Management LLC acquired a new stake in Myriad Genetics in the fourth quarter worth $1,635,000. Squarepoint Ops LLC lifted its position in Myriad Genetics by 27.0% in the 4th quarter. Squarepoint Ops LLC now owns 138,869 shares of the company's stock valued at $1,904,000 after purchasing an additional 29,524 shares during the last quarter. Finally, Twinbeech Capital LP acquired a new position in shares of Myriad Genetics during the fourth quarter worth approximately $562,000. 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.