Shares of Myriad Genetics (MYGN) are soaring 5.03% in intraday trading on Wednesday, showcasing significant investor enthusiasm for the genetic testing company. The stock's upward movement comes amid positive analyst sentiment, driving renewed interest in MYGN.

The catalyst for today's stock surge appears to be Wells Fargo's decision to raise its target price for Myriad Genetics. The financial services company has increased its price target from $6 to $6.5, signaling increased confidence in MYGN's future performance and growth prospects.

This upward revision in the target price by a major financial institution like Wells Fargo could be interpreted as a vote of confidence in Myriad Genetics' business model and future outlook. Investors often react positively to such analyst upgrades, as they can indicate potential undervaluation or improved business prospects. As the market digests this new information, it will be interesting to see if MYGN can maintain its momentum in the coming trading sessions.