Myriad Genetics (NASDAQ:MYGN) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.
MYGN has been the topic of a number of other research reports. BTIG Research initiated coverage on shares of Myriad Genetics in a research report on Friday, January 5th. They set a “buy” rating and a $41.00 target price on the stock. Morgan Stanley restated an “underweight” rating and set a $24.00 target price (up previously from $17.00) on shares of Myriad Genetics in a research report on Friday, October 6th. Barclays reaffirmed a “hold” rating and set a $30.00 price target on shares of Myriad Genetics in a research note on Monday, January 8th. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, October 17th. Finally, ValuEngine raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.09.
Shares of Myriad Genetics (NASDAQ MYGN) opened at $38.62 on Friday. Myriad Genetics has a 1 year low of $15.15 and a 1 year high of $38.65. The stock has a market cap of $2,630.46, a P/E ratio of 25.92, a P/E/G ratio of 2.41 and a beta of 0.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.06 and a current ratio of 2.34.
In other news, VP Richard M. Marsh sold 13,759 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $36.25, for a total value of $498,763.75. Following the transaction, the vice president now owns 136,385 shares of the company’s stock, valued at approximately $4,943,956.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Gary A. King sold 3,120 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were 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 in the company, valued at approximately $4,768,354.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,410 shares of company stock worth $1,163,524. 6.70% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of Myriad Genetics by 18.4% in the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after acquiring an additional 343,196 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Myriad Genetics by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 660,729 shares of the company’s stock valued at $22,693,000 after acquiring an additional 29,797 shares during the period. Convergence Investment Partners LLC purchased a new position in shares of Myriad Genetics in the 4th quarter valued at $3,787,000. Louisiana State Employees Retirement System raised its stake in shares of Myriad Genetics by 7.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company’s stock valued at $1,023,000 after acquiring an additional 2,100 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Myriad Genetics by 5.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 353,673 shares of the company’s stock valued at $12,796,000 after acquiring an additional 17,439 shares during the period.
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Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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