Myriad Genetics (NASDAQ:MYGN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently commented on MYGN. Leerink Partners lifted their price target on shares of Myriad Genetics from $5.00 to $8.00 and gave the stock a “market perform” rating in a research note on Thursday, November 5th. Weiss Ratings lowered shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. Stephens reduced their price objective on shares of Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 18th. Craig Hallum raised their price objective on shares of Myriad Genetics from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Finally, TD Cowen boosted their target price on Myriad Genetics from $4.50 to $6.75 and gave the company a “hold” rating in a research report on Thursday, November 5th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and an average price target of $5.55.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $5.74 on Friday. The firm has a market capitalization of $549.03 million, a PE ratio of -4.22 and a beta of 1.62. The stock’s fifty day moving average is $4.55 and its 200 day moving average is $4.62. Myriad Genetics has a fifty-two week low of $2.74 and a fifty-two week high of $8.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.21.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. The company had revenue of $202.70 million during the quarter, compared to analyst estimates of $191.33 million. Myriad Genetics had a negative net margin of 16.07% and a negative return on equity of 18.88%. On average, sell-side analysts anticipate that Myriad Genetics will post -0.99 earnings per share for the current year.

Institutional Trading of Myriad Genetics

Several institutional investors and hedge funds have recently made changes to their positions in MYGN. Orbimed Advisors LLC purchased a new stake in shares of Myriad Genetics during the first quarter valued at $562,500,000. BlackRock Inc. purchased a new position in Myriad Genetics in the 2nd quarter worth about $62,184,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Myriad Genetics in the 2nd quarter worth about $8,039,000. Man Group plc bought a new stake in Myriad Genetics during the 2nd quarter valued at about $5,189,000. Finally, Bank of America Corp DE bought a new stake in Myriad Genetics during the 2nd quarter valued at about $5,150,000. 99.02% of the stock is currently owned by institutional investors.

About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests and related services to help healthcare providers assess disease risk, guide treatment decisions and support patient care. The company’s testing portfolio spans hereditary cancer, precision oncology, women’s health, mental health and other clinical applications.

Its products include hereditary cancer risk tests such as MyRisk and BRACAnalysis, which evaluate inherited genetic variants associated with cancers including breast and ovarian cancer.