Myriad Genetics (NASDAQ:MYGN) Shares Gap Up After Analyst Upgrade

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) gapped up prior to trading on Tuesday after Piper Sandler upgraded the stock from an underweight rating to a neutral rating. The stock had previously closed at $4.21, but opened at $5.34. Piper Sandler now has a $5.00 price target on the stock. Myriad Genetics shares last traded at $5.3810, with a volume of 9,513,347 shares changing hands.

MYGN has been the subject of several other research reports. Wells Fargo & Company dropped their target price on shares of Myriad Genetics from $5.50 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, August 3rd. Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 15th. Weiss Ratings upgraded Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 12th. Stephens reduced their price target on Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 18th. Finally, TD Cowen lifted their price objective on Myriad Genetics from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Tuesday, October 13th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and a consensus price target of $4.77.

Key Stories Impacting Myriad Genetics

Here are the key news stories impacting Myriad Genetics this week:

• Positive Sentiment: The transaction includes Myriad’s Prequel®, Foresight®, SneakPeek® and FirstGene® tests. Investors viewed the divestiture favorably because it monetizes a business described as underperforming and allows Myriad to focus on its remaining molecular-diagnostics operations. Proceeds could also improve financial flexibility. Myriad Genetics and Labcorp Announce Definitive Agreement
• Positive Sentiment: The $210 million cash consideration is significant relative to Myriad’s market value, supporting the view that the sale may strengthen its balance sheet and reduce exposure to a struggling business. The deal remains subject to customary closing conditions. Labcorp to Buy Myriad Genetics Prenatal Testing Business
• Positive Sentiment: Options activity was unusually heavy, with traders purchasing 5,030 call contracts—more than 40 times average daily call volume—indicating elevated speculative interest in further gains, though it is not a fundamental confirmation.
• Neutral Sentiment: Piper Sandler upgraded MYGN from “underweight” to “neutral” and assigned a $5.00 price target. The upgrade removes a bearish rating, but the target suggests limited near-term upside based on the stock’s trading level.
• Negative Sentiment: Myriad’s broader operating backdrop remains challenging: its latest reported quarter missed earnings and revenue expectations, with revenue declining year over year and analysts projecting a loss for the full year. The divestiture improves focus and liquidity but also removes the prenatal-testing revenue stream.

Institutional Investors Weigh In On Myriad Genetics

Large investors have recently modified their holdings of the business. Orbimed Advisors LLC acquired a new stake in shares of Myriad Genetics during the first quarter worth about $562,500,000. BlackRock Inc. bought a new position in shares of Myriad Genetics during the 2nd quarter valued at about $62,184,000. Assenagon Asset Management S.A. lifted its holdings in shares of Myriad Genetics by 23.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,446,961 shares of the company’s stock valued at $6,511,000 after purchasing an additional 279,227 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Myriad Genetics during the 2nd quarter valued at about $8,039,000. Finally, Man Group plc acquired a new position in shares of Myriad Genetics in the 2nd quarter valued at approximately $5,189,000. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Price Performance

The company has a 50-day moving average of $3.78 and a 200-day moving average of $4.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.21. The firm has a market capitalization of $532.77 million, a price-to-earnings ratio of -4.68 and a beta of 1.64.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.19). Myriad Genetics had a negative return on equity of 16.09% and a negative net margin of 13.96%. The company had revenue of $190.70 million for the quarter, compared to analyst estimates of $206.03 million. During the same quarter last year, the business posted $0.05 earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, research analysts anticipate that Myriad Genetics, Inc. will post -0.99 EPS for the current fiscal year.

Myriad Genetics Company Profile

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests designed to help healthcare professionals assess disease risk, guide treatment decisions and support patient care. The company serves physicians, hospitals, health systems, biopharmaceutical companies and patients, with a focus on areas including oncology, women’s health and mental health.

Its portfolio includes hereditary cancer testing, such as the MyRisk Hereditary Cancer test; tumor profiling and companion diagnostic services used to help inform cancer treatment; prenatal and carrier screening tests, including Prequel and Foresight; and pharmacogenomic testing, including GeneSight, which is intended to help clinicians evaluate how a patient may respond to certain psychiatric medications.