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Myriad Genetics Gives Way to the Analysts: Down 2.3% Since Last Week's Downgrade

Published on Thu, 01/10/2013 - 10:11
By Mallory Stone

JP Morgan downgraded Myriad Genetics (NASDAQ:MYGN) from Neutral to Underweight a week ago. Myriad Genetics stocks closed at $27.05, a 2.3% loss over the course of one week.

Myriad Genetics has overhead space with shares priced $27.24, or 13.6% below the average consensus analyst price target of $31.55. The stock should hit resistance at its 50-day moving average (MA) of $28.17, as well as support at its 200-day MA of $26.00.

Over the past year, Myriad Genetics has traded in a range of $17.51 to $31.80 and is now at $27.24, 56% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.2%.

Myriad Genetics, Inc. develops and markets molecular diagnostic products to provide physicians with information to help guide the care of their patients, to prevent disease, delay the onset of disease, or catch disease at an early stage.

By Mallory Stone
mstone@fnno.com