Cowen downgraded shares of Myriad Genetics (NASDAQ:MYGN) from an outperform rating to a market perform rating in a research report released on Tuesday morning, Benzinga reports. Cowen currently has $26.64 price target on the stock.
A number of other research firms have also recently issued reports on MYGN. Barclays set a $18.00 price objective on Summit Materials and gave the company a hold rating in a research report on Friday, June 14th. Needham & Company LLC reaffirmed a strong-buy rating and issued a $32.00 price objective on shares of Myriad Genetics in a research report on Tuesday, May 14th. They noted that the move was a valuation call. BidaskClub cut Extraction Oil & Gas from a hold rating to a sell rating in a research report on Saturday, May 4th. ValuEngine cut Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research cut First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Myriad Genetics has an average rating of Hold and an average target price of $37.74.
MYGN opened at $25.18 on Tuesday. Myriad Genetics has a 12-month low of $22.07 and a 12-month high of $50.44. The firm has a market capitalization of $1.95 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. The company has a 50 day simple moving average of $25.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.86 and a current ratio of 3.15.
Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in Myriad Genetics by 8.0% during the 4th quarter. California State Teachers Retirement System now owns 109,819 shares of the company’s stock worth $3,192,000 after purchasing an additional 8,114 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Myriad Genetics by 8.3% during the 4th quarter. Bank of New York Mellon Corp now owns 985,904 shares of the company’s stock worth $28,660,000 after purchasing an additional 75,872 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Myriad Genetics by 1.5% during the 1st quarter. Pinnacle Associates Ltd. now owns 479,837 shares of the company’s stock worth $15,931,000 after purchasing an additional 7,200 shares during the last quarter. Vanguard Group Inc lifted its holdings in Myriad Genetics by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 8,656,933 shares of the company’s stock worth $398,219,000 after purchasing an additional 365,697 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Myriad Genetics by 6.4% during the 4th quarter. BlackRock Inc. now owns 12,202,442 shares of the company’s stock worth $354,727,000 after purchasing an additional 735,832 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.
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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