FY2024 EPS Estimates for Myriad Genetics Raised by Analyst

Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) - Research analysts at Leerink Partnrs lifted their FY2024 earnings estimates for shares of Myriad Genetics in a note issued to investors on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings of ($0.28) per share for the year, up from their prior estimate of ($0.30). Leerink Partnrs has a "Hold" rating on the stock. The consensus estimate for Myriad Genetics' current full-year earnings is ($0.28) per share. Leerink Partnrs also issued estimates for Myriad Genetics' Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.23) EPS.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The firm had revenue of $213.30 million for the quarter, compared to analyst estimates of $209.82 million. During the same period in the prior year, the company earned ($0.17) earnings per share.

MYGN has been the subject of several other research reports. Stephens restated an "equal weight" rating and issued a $20.00 price objective on shares of Myriad Genetics in a report on Thursday, January 16th. Morgan Stanley cut their price objective on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. Leerink Partners cut shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $30.00 to $21.00 in a report on Monday, December 9th. Piper Sandler decreased their price objective on Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Finally, UBS Group began coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a "neutral" rating and a $18.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Myriad Genetics presently has an average rating of "Hold" and a consensus target price of $23.92.

Myriad Genetics Stock Up 2.8 %

MYGN traded up $0.35 during trading hours on Thursday, hitting $12.63. 583,391 shares of the company's stock were exchanged, compared to its average volume of 919,656. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -9.74 and a beta of 1.89. Myriad Genetics has a 1-year low of $12.04 and a 1-year high of $29.30. The stock's 50-day moving average is $14.44 and its two-hundred day moving average is $21.61. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Myriad Genetics during the 3rd quarter worth $32,000. GAMMA Investing LLC lifted its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock valued at $44,000 after buying an additional 412 shares during the period. Point72 DIFC Ltd acquired a new stake in Myriad Genetics during the 2nd quarter worth about $60,000. KBC Group NV raised its position in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after acquiring an additional 3,334 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Myriad Genetics during the 2nd quarter valued at about $82,000. Institutional investors and hedge funds own 99.02% of the company's stock.

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.