Myriad Genetics (NASDAQ:MYGN) Downgraded to Strong Sell at BidaskClub
Several other research firms have also recently issued reports on MYGN. Zacks Investment Research raised Myriad Genetics from a sell rating to a hold rating and set a $15.00 price objective on the stock in a research report on Thursday, March 26th. Bank of America lowered their price target on Myriad Genetics from $16.00 to $13.00 and set an underperform rating on the stock in a report on Thursday, April 2nd. TheStreet cut Myriad Genetics from a c- rating to a d+ rating in a report on Friday, March 13th. Barclays lowered their price target on Myriad Genetics from $14.00 to $10.00 and set an underweight rating on the stock in a report on Thursday, March 26th. Finally, Needham & Company LLC reissued a hold rating on shares of Myriad Genetics in a report on Wednesday, May 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Myriad Genetics currently has a consensus rating of Hold and a consensus price target of $21.16.
MYGN stock opened at $11.02 on Friday. The stock has a market capitalization of $796.99 million, a PE ratio of -5.51 and a beta of 1.30. Myriad Genetics has a 12-month low of $9.24 and a 12-month high of $48.40. The company has a current ratio of 3.14, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $13.90 and its 200 day simple moving average is $18.69.
Several large investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Myriad Genetics by 5.4% in the 1st quarter. State Street Corp now owns 4,096,003 shares of the company’s stock worth $58,614,000 after purchasing an additional 209,727 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Myriad Genetics by 17.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 103,100 shares of the company’s stock worth $1,475,000 after purchasing an additional 15,300 shares in the last quarter. FDx Advisors Inc. purchased a new stake in shares of Myriad Genetics in the 1st quarter worth $300,000. HighTower Advisors LLC increased its stake in shares of Myriad Genetics by 70.0% in the 1st quarter. HighTower Advisors LLC now owns 21,160 shares of the company’s stock worth $304,000 after purchasing an additional 8,711 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Myriad Genetics in the 1st quarter worth $432,000. Hedge funds and other institutional investors own 99.05% of the company’s stock.
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; 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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