Myriad Genetics (NASDAQ:MYGN) was downgraded by TheStreet from a “b” rating to a “c” rating in a research report issued on Thursday.
Several other brokerages have also weighed in on MYGN. Piper Jaffray Companies upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $53.00 in a report on Wednesday, October 10th. Barclays upped their price objective on Myriad Genetics from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, August 22nd. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Friday, August 24th. ValuEngine lowered Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Finally, BidaskClub lowered Myriad Genetics from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.90.
Shares of Myriad Genetics stock traded down $0.31 during trading on Thursday, hitting $30.85. The stock had a trading volume of 1,369,527 shares, compared to its average volume of 1,155,791. The company has a quick ratio of 2.86, a current ratio of 3.17 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. Myriad Genetics has a fifty-two week low of $27.27 and a fifty-two week high of $50.44.
Institutional investors have recently made changes to their positions in the company. Robecosam AG raised its position in shares of Myriad Genetics by 39.8% during the second quarter. Robecosam AG now owns 4,193 shares of the company’s stock worth $156,000 after purchasing an additional 1,193 shares during the period. First Quadrant L P CA acquired a new stake in shares of Myriad Genetics during the third quarter worth $201,000. Parametrica Management Ltd acquired a new stake in shares of Myriad Genetics during the third quarter worth $204,000. Royal Bank of Canada raised its position in shares of Myriad Genetics by 59.5% during the first quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock worth $136,000 after purchasing an additional 1,715 shares during the period. Finally, CHICAGO TRUST Co NA acquired a new stake in shares of Myriad Genetics during the third quarter worth $230,000. 96.75% of the stock is currently owned by institutional investors.
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.
Further Reading: Asset Allocation, Balancing Your Investments
Receive News & Ratings for Myriad Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics and related companies with MarketBeat.com's FREE daily email newsletter.