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

Myriad Genetics (NASDAQ:MYGN - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.030-0.040 for the period, compared to the consensus earnings per share 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 Down 3.9 %

MYGN traded down $0.53 during trading on Wednesday, reaching $13.15. The stock had a trading volume of 853,375 shares, compared to its average volume of 873,184. Myriad Genetics has a one year low of $12.81 and a one year high of $29.30. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -10.12 and a beta of 1.89. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock's 50 day moving average is $14.98 and its two-hundred day moving average is $22.10.

Analysts Set New Price Targets

Several research firms recently commented on MYGN. StockNews.com raised shares of Myriad Genetics from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th. UBS Group started coverage on Myriad Genetics in a research note on Tuesday, December 10th. They issued a "neutral" rating and a $18.00 price target on the stock. Leerink Partnrs cut Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. Morgan Stanley cut their target price on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. Finally, Leerink Partners lowered Myriad Genetics from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.