Myriad Genetics (NASDAQ:MYGN) Releases FY 2024 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY 2024 earnings guidance on Sunday morning. The company provided earnings per share guidance of 0.140-0.150 for the period, compared to the consensus earnings per share estimate of 0.130. The company issued revenue guidance of $836.0 million-$838.0 million, compared to the consensus revenue estimate of $840.2 million.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MYGN shares. Piper Sandler cut their price target on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Bank of America cut their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, December 13th. Morgan Stanley dropped their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.92.

Myriad Genetics Stock Performance

MYGN stock opened at $12.39 on Monday. Myriad Genetics has a 1 year low of $12.17 and a 1 year high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $14.68 and its 200 day moving average price is $21.85.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.