Myriad Genetics (NASDAQ:MYGN) received a $44.00 target price from stock analysts at BTIG Research in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 34.89% from the stock’s previous close.
A number of other research analysts also recently commented on the company. Leerink Swann increased their target price on Myriad Genetics from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Wednesday. Morgan Stanley increased their target price on Myriad Genetics from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Wednesday. Goldman Sachs Group assumed coverage on Myriad Genetics in a research report on Monday, January 29th. They set a “sell” rating and a $32.00 target price for the company. Barclays increased their target price on Myriad Genetics from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, January 22nd. Finally, BidaskClub upgraded Myriad Genetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 20th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.42.
Myriad Genetics (MYGN) traded down $1.21 during mid-day trading on Wednesday, reaching $32.62. The company’s stock had a trading volume of 1,020,943 shares, compared to its average volume of 788,239. Myriad Genetics has a 1-year low of $15.71 and a 1-year high of $41.57. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The company has a market cap of $2,479.51, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 2.26 and a beta of 0.32.
In related news, Director Walter Phd Gilbert sold 7,500 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $33.19, for a total transaction of $248,925.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heinrich Dreismann sold 6,000 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $33.50, for a total value of $201,000.00. Following the sale, the director now owns 33,743 shares in the company, valued at approximately $1,130,390.50. The disclosure for this sale can be found here. Insiders have sold a total of 71,064 shares of company stock worth $2,679,097 in the last 90 days. 6.70% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its stake in Myriad Genetics by 1,067.4% in the third quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after purchasing an additional 3,010 shares during the period. LS Investment Advisors LLC increased its stake in Myriad Genetics by 88.5% in the fourth quarter. LS Investment Advisors LLC now owns 4,791 shares of the company’s stock worth $165,000 after purchasing an additional 2,250 shares during the period. Tiedemann Wealth Management LLC increased its stake in Myriad Genetics by 67.0% in the third quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock worth $185,000 after purchasing an additional 5,475 shares during the period. Commonwealth Equity Services Inc purchased a new stake in Myriad Genetics in the third quarter worth $202,000. Finally, Teacher Retirement System of Texas purchased a new stake in Myriad Genetics in the third quarter worth $204,000.
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About Myriad Genetics
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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