Myriad Genetics (NASDAQ:MYGN) Now Covered by Analysts at Craig Hallum

Investment analysts at Craig Hallum assumed coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $29.00 price target on the stock. Craig Hallum’s target price points to a potential upside of 125.00% from the company’s previous close.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Stephens restated an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Morgan Stanley cut their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Piper Sandler reduced their price objective on shares of Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Bank of America lowered their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $22.54.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $12.89 on Wednesday. Myriad Genetics has a 52 week low of $12.04 and a 52 week high of $29.30. The company has a 50-day moving average price of $13.58 and a 200 day moving average price of $20.19. The company has a market cap of $1.17 billion, a P/E ratio of -9.84 and a beta of 1.88. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in shares of Myriad Genetics during the second quarter worth about $537,000. GAMMA Investing LLC grew its stake in Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after acquiring an additional 412 shares during the period. Creative Planning raised its holdings in Myriad Genetics by 9.8% in the 3rd quarter. Creative Planning now owns 9,949 shares of the company’s stock valued at $273,000 after acquiring an additional 892 shares during the last quarter. Inspire Advisors LLC purchased a new position in shares of Myriad Genetics during the 3rd quarter worth $208,000. Finally, OmniStar Financial Group Inc. acquired a new stake in shares of Myriad Genetics during the third quarter worth $863,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.