Craig Hallum Begins Coverage on Myriad Genetics (NASDAQ:MYGN)

Research analysts at Craig Hallum initiated coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a report released 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 price objective suggests a potential upside of 125.00% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Stephens reissued an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research report on Thursday, January 16th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lowered their price objective on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.54.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $12.89 on Wednesday. The firm has a 50 day moving average of $13.58 and a two-hundred day moving average of $20.19. The stock has a market capitalization of $1.17 billion, a PE 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. Myriad Genetics has a 52 week low of $12.04 and a 52 week high of $29.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MYGN. Artisan Partners Limited Partnership raised its holdings in shares of Myriad Genetics by 13.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock valued at $37,932,000 after buying an additional 336,770 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Myriad Genetics in the 4th quarter valued at about $684,000. Segall Bryant & Hamill LLC raised its stake in Myriad Genetics by 137.4% during the 4th quarter. Segall Bryant & Hamill LLC now owns 72,117 shares of the company’s stock valued at $989,000 after acquiring an additional 41,739 shares during the last quarter. Vanguard Group Inc. lifted its position in Myriad Genetics by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock worth $145,203,000 after acquiring an additional 279,379 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Myriad Genetics during the 4th quarter worth approximately $247,000. 99.02% of the stock is 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.