Morgan Stanley upgraded shares of Myriad Genetics (NASDAQ:MYGN) from an underweight rating to an equal weight rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has $28.00 target price on the stock.
Several other research firms have also commented on MYGN. Goldman Sachs assumed coverage on Myriad Genetics in a research report on Monday, January 29th. They issued a sell rating and a $32.00 price objective on the stock. Barclays upped their price objective on Myriad Genetics from $30.00 to $35.00 and gave the stock an equal weight rating in a research report on Monday, January 22nd. BidaskClub upgraded Myriad Genetics from a buy rating to a strong-buy rating in a research report on Saturday, January 20th. BTIG Research set a $41.00 price objective on Myriad Genetics and gave the stock a buy rating in a research report on Tuesday, January 16th. Finally, Stephens set a $45.00 price objective on Myriad Genetics and gave the stock a buy rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Myriad Genetics currently has an average rating of Hold and an average price target of $31.42.
Shares of MYGN stock opened at $28.83 on Wednesday. The company has a market capitalization of $2,033.34, a P/E ratio of 15.58, a P/E/G ratio of 2.05 and a beta of 0.44. Myriad Genetics has a 52-week low of $17.50 and a 52-week high of $41.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.05 and a quick ratio of 1.81.
In other news, VP Gary A. King sold 3,120 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $38.12, for a total transaction of $118,934.40. Following the completion of the transaction, the vice president now directly owns 125,088 shares of the company’s stock, valued at approximately $4,768,354.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard M. Marsh sold 13,759 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $36.25, for a total value of $498,763.75. Following the transaction, the vice president now directly owns 136,385 shares of the company’s stock, valued at $4,943,956.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,533 shares of company stock valued at $2,133,272. Corporate insiders own 6.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in MYGN. Prudential Financial Inc. raised its stake in shares of Myriad Genetics by 3.9% during the 3rd quarter. Prudential Financial Inc. now owns 131,073 shares of the company’s stock worth $4,742,000 after buying an additional 4,900 shares during the period. Sei Investments Co. raised its stake in shares of Myriad Genetics by 19,816.3% during the 3rd quarter. Sei Investments Co. now owns 19,518 shares of the company’s stock worth $707,000 after buying an additional 19,420 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Myriad Genetics by 60.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 25,760 shares of the company’s stock worth $932,000 after buying an additional 9,680 shares during the period. Rhumbline Advisers raised its stake in shares of Myriad Genetics by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 137,380 shares of the company’s stock worth $4,970,000 after buying an additional 3,575 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Myriad Genetics during the 3rd quarter worth approximately $204,000.
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Myriad Genetics Company Profile
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BART, a DNA sequencing test for hereditary breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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