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

Myriad Genetics (NASDAQ:MYGN) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $30.00 to $21.00 in a research report on Monday, December 9th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Morgan Stanley cut their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Finally, Bank of America decreased their price objective on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research note on Friday, December 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.27.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $13.15 on Thursday. Myriad Genetics has a fifty-two week low of $12.81 and a fifty-two week high of $29.30. 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 firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -10.12 and a beta of 1.89. The stock’s 50-day simple moving average is $14.89 and its 200-day simple moving average is $22.04.

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.