Myriad Genetics upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded Myriad Genetics (MYGN) to Overweight from Neutral with a price target of $12.50, up from $11.50. The stock is down more than 50% in the last six months and Myriad still has a leading position and high margins in markets that are consolidating around a “profitability paradigm,” the analyst tells investors in a research note. Piper believes the stock “has more than rebased” and the new CEO Sam Raha has a chance to reset the business, make strategic decisions and “provide reasonable expectations to match.”