Myriad Genetics (MYGN) Earns Strong-Buy Rating from Needham & Company LLC
Needham & Company LLC restated their strong-buy rating on shares of Myriad Genetics (NASDAQ:MYGN) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $41.00 price target on the stock, up from their previous price target of $37.00.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Myriad Genetics from a hold rating to a buy rating and set a $34.00 target price for the company in a research report on Friday, January 11th. BidaskClub downgraded shares of Myriad Genetics from a hold rating to a sell rating in a research report on Tuesday, November 13th. Barclays cut their target price on shares of Myriad Genetics from $23.00 to $21.00 and set an underweight rating for the company in a research report on Thursday, January 3rd. Finally, Goldman Sachs Group upgraded shares of Myriad Genetics from a sell rating to a neutral rating and increased their target price for the stock from $28.00 to $32.00 in a research report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Myriad Genetics currently has an average rating of Hold and an average target price of $40.37.
MYGN stock opened at $34.14 on Tuesday. Myriad Genetics has a 12-month low of $26.05 and a 12-month high of $50.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.97 and a quick ratio of 2.68. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.83 and a beta of 0.57.
In other news, insider Ralph L. Mcdade sold 1,975 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $31.00, for a total transaction of $61,225.00. Following the transaction, the insider now owns 122,604 shares in the company, valued at approximately $3,800,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in shares of Myriad Genetics during the 4th quarter valued at $42,000. Quantbot Technologies LP bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $130,000. Quantamental Technologies LLC bought a new position in shares of Myriad Genetics during the 4th quarter valued at $123,000. Ibex Investors LLC bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $202,000. Finally, Parametrica Management Ltd bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 99.21% of the company’s stock.
About Myriad Genetics
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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