Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $27.96.
A number of research analysts recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Myriad Genetics in a report on Friday, January 3rd. They issued a “strong-buy” rating and a $36.00 price objective for the company. Piper Jaffray Companies dropped their price objective on shares of Myriad Genetics from $40.00 to $22.00 in a report on Tuesday, November 5th. Bank of America lowered shares of Myriad Genetics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $30.00 to $28.00 in a report on Thursday, September 26th. Barclays dropped their price objective on shares of Myriad Genetics from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Tuesday, November 5th. Finally, Leerink Swann dropped their price objective on shares of Myriad Genetics from $37.00 to $28.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th.
NASDAQ MYGN traded up $1.17 during trading hours on Tuesday, reaching $29.30. The company’s stock had a trading volume of 690,500 shares, compared to its average volume of 643,578. The firm has a fifty day simple moving average of $26.57 and a 200-day simple moving average of $28.30. The stock has a market cap of $2.09 billion, a P/E ratio of 22.71, a P/E/G ratio of 3.32 and a beta of 0.92. Myriad Genetics has a 52 week low of $20.10 and a 52 week high of $48.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.86 and a quick ratio of 2.61.
In related news, Director John T. Henderson acquired 5,250 shares of Myriad Genetics stock in a transaction dated Thursday, November 7th. The stock was bought at an average price of $23.46 per share, with a total value of $123,165.00. Following the transaction, the director now directly owns 64,353 shares in the company, valued at approximately $1,509,721.38. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Walter Phd Gilbert acquired 5,860 shares of Myriad Genetics stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $25.60 per share, with a total value of $150,016.00. Following the transaction, the director now owns 54,150 shares in the company, valued at $1,386,240. The disclosure for this purchase can be found here. Company insiders own 5.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Neuburgh Advisers LLC lifted its stake in Myriad Genetics by 4.5% during the 2nd quarter. Neuburgh Advisers LLC now owns 7,040 shares of the company’s stock valued at $196,000 after acquiring an additional 304 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Myriad Genetics by 5.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,898 shares of the company’s stock worth $219,000 after purchasing an additional 400 shares during the period. Glen Harbor Capital Management LLC raised its stake in shares of Myriad Genetics by 4.5% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 9,680 shares of the company’s stock worth $269,000 after purchasing an additional 418 shares during the period. Comerica Bank raised its stake in shares of Myriad Genetics by 0.4% during the 3rd quarter. Comerica Bank now owns 109,680 shares of the company’s stock worth $3,585,000 after purchasing an additional 463 shares during the period. Finally, Texas Permanent School Fund raised its stake in shares of Myriad Genetics by 1.0% during the 3rd quarter. Texas Permanent School Fund now owns 50,276 shares of the company’s stock worth $1,439,000 after purchasing an additional 480 shares during the period.
About Myriad Genetics
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; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; 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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