Myriad Genetics (NASDAQ:MYGN) Announces Earnings Results, Misses Expectations By $0.12 EPS

Myriad Genetics (NASDAQ:MYGN) issued its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12), Zacks reports. The firm had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period last year, the firm earned ($0.12) EPS.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $11.74 on Wednesday. The stock has a 50-day moving average price of $13.41 and a 200 day moving average price of $19.27. The stock has a market capitalization of $1.07 billion, a P/E ratio of -9.03 and a beta of 1.88. Myriad Genetics has a 12-month low of $9.76 and a 12-month high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

MYGN has been the subject of several analyst reports. Bank of America dropped their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research report on Friday, December 13th. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Piper Sandler decreased their price objective on shares of Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. The Goldman Sachs Group cut their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group decreased their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.14.

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.