Myriad Genetics (NASDAQ:MYGN) had its target price lowered by Deutsche Bank from $45.00 to $35.00 in a research report report published on Wednesday, The Fly reports. The firm currently has a hold rating on the stock.
A number of other analysts also recently commented on MYGN. Barclays upgraded Myriad Genetics from an underweight rating to an equal weight rating and raised their price objective for the stock from $18.00 to $40.00 in a research report on Thursday, August 1st. Piper Jaffray Companies downgraded Myriad Genetics from an overweight rating to a neutral rating and reduced their price objective for the stock from $45.00 to $40.00 in a research report on Wednesday. Bank of America upgraded Myriad Genetics from an underperform rating to a neutral rating in a research report on Friday, August 2nd. Needham & Company LLC downgraded Myriad Genetics from a strong-buy rating to a hold rating in a research report on Monday, July 29th. Finally, Zacks Investment Research upgraded Myriad Genetics from a sell rating to a hold rating and set a $30.00 price objective for the company in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Myriad Genetics currently has a consensus rating of Hold and an average price target of $37.64.
Shares of NASDAQ:MYGN opened at $25.35 on Wednesday. The business has a 50 day moving average price of $32.05 and a 200 day moving average price of $30.04. Myriad Genetics has a twelve month low of $22.07 and a twelve month high of $50.44. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 1.20 and a beta of 0.81. The company has a quick ratio of 2.86, a current ratio of 2.96 and a debt-to-equity ratio of 0.21.
In related news, insider Bernard Tobin sold 11,712 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $40.00, for a total transaction of $468,480.00. Following the completion of the transaction, the insider now owns 146,040 shares in the company, valued at approximately $5,841,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gary A. King sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $43.49, for a total value of $2,609,400.00. Following the transaction, the vice president now owns 164,871 shares of the company’s stock, valued at approximately $7,170,239.79. The disclosure for this sale can be found here. Insiders have sold a total of 96,712 shares of company stock valued at $4,115,380 in the last 90 days. 5.80% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Myriad Genetics by 4.2% during the 2nd quarter. BlackRock Inc. now owns 12,535,346 shares of the company’s stock worth $348,233,000 after buying an additional 509,214 shares during the period. Baillie Gifford & Co. lifted its position in shares of Myriad Genetics by 0.6% during the 1st quarter. Baillie Gifford & Co. now owns 9,540,586 shares of the company’s stock worth $316,747,000 after buying an additional 55,642 shares during the period. Frontier Capital Management Co. LLC lifted its position in shares of Myriad Genetics by 4.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 3,363,970 shares of the company’s stock worth $111,684,000 after buying an additional 140,404 shares during the period. Invesco Ltd. lifted its position in shares of Myriad Genetics by 19.7% during the 2nd quarter. Invesco Ltd. now owns 1,856,133 shares of the company’s stock worth $51,563,000 after buying an additional 305,143 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Myriad Genetics by 6.1% during the 2nd quarter. Northern Trust Corp now owns 1,795,468 shares of the company’s stock worth $49,879,000 after buying an additional 103,590 shares during the period. Institutional investors and hedge funds own 99.22% 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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