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

Myriad Genetics (NASDAQ:MYGN)‘s stock had its “equal weight” rating reissued by equities researchers at Stephens in a note issued to investors on Thursday,Benzinga reports. They presently have a $20.00 price objective on the stock. Stephens’ price objective would indicate a potential upside of 61.42% from the stock’s current price.

MYGN has been the topic of a number of other reports. Bank of America lowered their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research note on Friday, December 13th. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Morgan Stanley reduced their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Piper Sandler dropped their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Finally, UBS Group assumed coverage on Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price objective for the company. Three equities 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’s stock. According to data from MarketBeat.com, Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $23.92.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN opened at $12.39 on Thursday. The stock’s 50-day simple moving average is $14.68 and its two-hundred day simple moving average is $21.89. Myriad Genetics has a twelve month low of $12.17 and a twelve month high of $29.30. The firm has a market capitalization of $1.13 billion, a P/E ratio of -9.53 and a beta of 1.89. 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 Trading of Myriad Genetics

A number of institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC increased its stake in shares of Myriad Genetics by 84.9% in the fourth quarter. Inspire Investing LLC now owns 31,373 shares of the company’s stock worth $430,000 after buying an additional 14,406 shares during the period. Nordea Investment Management AB increased its position in shares of 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 acquiring an additional 179,527 shares during the period. Franklin Resources Inc. increased its position in shares of Myriad Genetics by 8.8% in the third quarter. Franklin Resources Inc. now owns 58,055 shares of the company’s stock valued at $1,457,000 after acquiring an additional 4,710 shares during the period. Geode Capital Management LLC raised its stake in shares of Myriad Genetics by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company’s stock valued at $59,010,000 after acquiring an additional 21,220 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of Myriad Genetics by 21.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after purchasing an additional 440,107 shares during the period. Hedge funds and other institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

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.