Myriad Genetics (NASDAQ:MYGN) Releases Earnings Results, Beats Estimates By $0.09 EPS

Myriad Genetics (NASDAQ:MYGN) announced its earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.09, FiscalAI reports. Myriad Genetics had a negative return on equity of 16.09% and a negative net margin of 13.96%. The company had revenue of $202.70 million for the quarter, compared to analysts’ expectations of $191.33 million.

Myriad Genetics Stock Performance

MYGN stock traded down $0.02 during midday trading on Wednesday, hitting $6.02. The company’s stock had a trading volume of 2,067,590 shares, compared to its average volume of 1,891,089. The stock has a market cap of $575.81 million, a price-to-earnings ratio of -5.06 and a beta of 1.62. The company has a quick ratio of 1.98, a current ratio of 2.21 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $4.33 and its 200 day moving average price is $4.62. Myriad Genetics has a 1 year low of $2.74 and a 1 year high of $8.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Cowen lifted their price objective on shares of Myriad Genetics from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Wells Fargo & Company set a $4.50 target price on shares of Myriad Genetics in a report on Tuesday, October 20th. Stephens lowered their target price on shares of Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. Weiss Ratings lowered shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. Finally, Zacks Research upgraded shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.77.

About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests and related services to help healthcare providers assess disease risk, guide treatment decisions and support patient care. The company’s testing portfolio spans hereditary cancer, precision oncology, women’s health, mental health and other clinical applications.

Its products include hereditary cancer risk tests such as MyRisk and BRACAnalysis, which evaluate inherited genetic variants associated with cancers including breast and ovarian cancer.