Myriad Genetics (MYGN) Given New $28.00 Price Target at Morgan Stanley
A number of other brokerages have also recently commented on MYGN. Goldman Sachs Group assumed coverage on shares of Myriad Genetics in a research note on Monday, January 29th. They issued a sell rating and a $32.00 price objective for the company. Barclays lifted their price objective on shares of Myriad Genetics from $30.00 to $35.00 and gave the stock an equal weight rating in a research note on Monday, January 22nd. BidaskClub raised shares of Myriad Genetics from a buy rating to a strong-buy rating in a research note on Saturday, January 20th. Zacks Investment Research raised shares of Myriad Genetics from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a research note on Tuesday, October 17th. Finally, BTIG Research set a $41.00 price objective on shares of Myriad Genetics and gave the stock a buy rating in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $31.17.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at $33.83 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2,479.51, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.26 and a beta of 0.32. Myriad Genetics has a fifty-two week low of $15.71 and a fifty-two week high of $41.57.
In related news, VP Gary A. King sold 3,120 shares of Myriad Genetics stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $38.12, for a total transaction of $118,934.40. Following the completion of the transaction, the vice president now directly owns 125,088 shares of the company’s stock, valued at approximately $4,768,354.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard M. Marsh sold 37,654 shares of Myriad Genetics stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $40.25, for a total transaction of $1,515,573.50. Following the transaction, the vice president now directly owns 157,648 shares of the company’s stock, valued at $6,345,332. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,064 shares of company stock valued at $2,679,097. 6.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock worth $162,992,000 after purchasing an additional 56,708 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Myriad Genetics by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock worth $129,527,000 after purchasing an additional 149,865 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Myriad Genetics by 18.4% during the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock worth $75,743,000 after purchasing an additional 343,196 shares during the period. Northern Trust Corp boosted its stake in shares of Myriad Genetics by 31.1% during the 2nd quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock worth $33,400,000 after purchasing an additional 306,276 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Myriad Genetics by 7.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,151,915 shares of the company’s stock worth $41,676,000 after purchasing an additional 78,798 shares during the period.
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Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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