UBS Group Begins Coverage on Myriad Genetics (NASDAQ:MYGN)

UBS Group began coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a research report report published on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $18.00 price objective on the stock.

Several other research analysts have also recently weighed in on the company. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $30.00 to $21.00 in a research note on Monday. Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target for the company. Morgan Stanley decreased their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Scotiabank boosted their price target on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and an average target price of $25.42.

Myriad Genetics Trading Down 0.1 %

Myriad Genetics stock opened at $14.50 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $19.06 and its two-hundred day simple moving average is $23.63. Myriad Genetics has a 12 month low of $14.20 and a 12 month high of $29.30. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -11.15 and a beta of 1.87.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares in the company, valued at $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Trading of Myriad Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D purchased a new stake in Myriad Genetics in the third quarter worth about $1,965,000. Legato Capital Management LLC bought a new position in shares of Myriad Genetics in the second quarter worth about $1,123,000. Assenagon Asset Management S.A. boosted its stake in shares of Myriad Genetics by 26.7% in the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company’s stock worth $6,128,000 after acquiring an additional 52,813 shares during the period. Maven Securities LTD bought a new position in shares of Myriad Genetics in the second quarter worth about $1,223,000. Finally, Simplify Asset Management Inc. bought a new position in shares of Myriad Genetics in the third quarter worth about $4,756,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

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.