Myriad Genetics (NASDAQ:MYGN) has been assigned a $41.00 target price by equities researchers at BTIG Research in a report released on Tuesday. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 14.56% from the company’s previous close.
Several other equities analysts also recently issued reports on MYGN. Barclays reissued a “hold” rating and set a $30.00 price target on shares of Myriad Genetics in a report on Monday, January 8th. Stephens set a $45.00 price target on shares of Myriad Genetics and gave the company a “buy” rating in a report on Wednesday, January 3rd. ValuEngine downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Leerink Swann reissued a “market perform” rating and set a $31.00 price target on shares of Myriad Genetics in a report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $30.09.
Myriad Genetics (NASDAQ:MYGN) opened at $35.79 on Tuesday. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $37.30. The stock has a market cap of $2,496.13, a price-to-earnings ratio of 24.02, a PEG ratio of 2.29 and a beta of 0.24. The company has a current ratio of 2.34, a quick ratio of 2.06 and a debt-to-equity ratio of 0.09.
In related news, VP Richard M. Marsh sold 13,759 shares of Myriad Genetics stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $36.25, for a total transaction of $498,763.75. Following the sale, the vice president now directly owns 136,385 shares in the company, valued at $4,943,956.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander Ford sold 3,031 shares of Myriad Genetics stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $31.64, for a total transaction of $95,900.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,290 shares of company stock worth $1,044,590. Company insiders own 6.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Myriad Genetics by 0.9% during the second quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock valued at $162,992,000 after purchasing an additional 56,708 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Myriad Genetics by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock valued at $129,527,000 after purchasing an additional 149,865 shares in the last quarter. Northern Trust Corp raised its stake in shares of Myriad Genetics by 31.1% during the second quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock valued at $33,400,000 after purchasing an additional 306,276 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Myriad Genetics by 7.3% during the third quarter. Russell Investments Group Ltd. now owns 1,151,915 shares of the company’s stock valued at $41,676,000 after purchasing an additional 78,798 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Myriad Genetics by 98.2% in the third quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock worth $30,548,000 after acquiring an additional 418,335 shares in the last quarter.
About Myriad Genetics
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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