Myriad Genetics (NASDAQ:MYGN) Updates Q4 2024 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.030-0.040 for the period, compared to the consensus estimate of 0.030. The company issued revenue guidance of $209.0 million-$211.0 million, compared to the consensus revenue estimate of $212.8 million. Myriad Genetics also updated its FY 2025 guidance to 0.070-0.110 EPS.

Myriad Genetics Stock Performance

Shares of MYGN opened at $13.15 on Thursday. The stock has a 50-day moving average of $14.89 and a two-hundred day moving average of $22.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a market cap of $1.20 billion, a P/E ratio of -10.12 and a beta of 1.89. Myriad Genetics has a one year low of $12.81 and a one year high of $29.30.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MYGN. UBS Group initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target on the stock. Piper Sandler cut their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Morgan Stanley reduced their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.27.

About Myriad Genetics

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.