Myriad Genetics (NASDAQ:MYGN) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Myriad reported Q1 EPS of ($0.09), missing consensus by $0.03 with revenue of $200.4M, yet management reaffirmed full‑year 2026 guidance of $860–$880M revenue, 68–69% adjusted gross margin and $37–$49M adjusted EBITDA.
• Commercial progress is mixed: alpha commercialization of Precise MRD (breast) is underway with ~12 sites and accelerated colorectal/renal rollouts toward 2026–2027, GeneSight revenue rose 24% YoY to $38.3M, while prenatal revenue declined ~15% YoY to $41.9M and remains a near‑term headwind.
• Insiders bought stock recently (director purchased 48,000 shares; CEO 40,000), shares trade around $5 with a market cap near $475M, and analysts have a consensus "Hold" rating with an average target of $8.94.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03), FiscalAI reports. The company had revenue of $200.40 million for the quarter, compared to analysts' expectations of $202.47 million. Myriad Genetics had a negative net margin of 44.38% and a negative return on equity of 6.35%.

Here are the key takeaways from Myriad Genetics' conference call:

• The company reaffirmed full‑year 2026 guidance with revenue of $860–$880M, adjusted gross margin of 68%–69%, and adjusted EBITDA of $37–$49M, after reporting Q1 revenue of $200.4M.
• Alpha commercialization of Precise MRD (breast) is underway with ~12 onboarded sites, strong assay yield and turnaround times, and the company has accelerated select colorectal and renal rollouts toward broader commercialization into 2026–2027.
• Management is investing $35M over several years and has added over 100 account executives focused on the cancer care continuum and prenatal channels, which should support launches but will take several quarters to reach full productivity and has driven higher near‑term OpEx.
• Prenatal revenue declined ~15% YoY to $41.9M due to prior ordering disruptions and account losses; management expects stabilization and a return to growth in H2 2026 driven by the FirstGene launch but the segment remains a near‑term headwind.
• GeneSight delivered strong performance with revenue up 24% YoY to $38.3M (7% volume growth), aided by improved reimbursement and a record ~39,000 ordering clinicians, supporting margin improvement.

Myriad Genetics Price Performance

Shares of MYGN traded up $0.09 during trading hours on Tuesday, hitting $5.03. 1,398,967 shares of the stock were exchanged, compared to its average volume of 1,513,447. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.26 and a current ratio of 2.49. Myriad Genetics has a 12-month low of $3.76 and a 12-month high of $8.59. The company has a market cap of $475.03 million, a price-to-earnings ratio of -1.28 and a beta of 1.81. The stock's 50-day moving average price is $4.77 and its two-hundred day moving average price is $5.92.

Insider Activity at Myriad Genetics

In other news, Director S. Louise Phanstiel purchased 48,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $4.66 per share, for a total transaction of $223,680.00. Following the completion of the transaction, the director owned 281,951 shares of the company's stock, valued at $1,313,891.66. This trade represents a 20.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Samraat S. Raha purchased 40,000 shares of the company's stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $5.00 per share, with a total value of $200,000.00. Following the completion of the transaction, the chief executive officer directly owned 493,104 shares of the company's stock, valued at $2,465,520. This represents a 8.83% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 144,507 shares of company stock valued at $694,548 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Trading of Myriad Genetics

Several large investors have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of Myriad Genetics by 2.4% during the fourth quarter. Invesco Ltd. now owns 507,180 shares of the company's stock worth $3,119,000 after purchasing an additional 12,026 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Myriad Genetics by 62.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,886 shares of the company's stock worth $165,000 after purchasing an additional 10,359 shares in the last quarter. Vestal Point Capital LP increased its position in shares of Myriad Genetics by 103.8% during the fourth quarter. Vestal Point Capital LP now owns 1,223,000 shares of the company's stock worth $7,521,000 after purchasing an additional 623,000 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Myriad Genetics in the 4th quarter valued at $276,000. Finally, Oxford Asset Management LLP purchased a new stake in Myriad Genetics in the 4th quarter valued at $143,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MYGN shares. Wells Fargo & Company reduced their price target on Myriad Genetics from $6.50 to $6.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 24th. UBS Group reduced their price target on Myriad Genetics from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Tuesday, February 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Myriad Genetics in a research report on Friday, March 27th. TD Cowen upgraded Myriad Genetics to a "hold" rating in a research report on Monday, April 13th. Finally, Zacks Research upgraded Myriad Genetics from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.94.

Myriad Genetics Company Profile

Myriad Genetics NASDAQ: MYGN is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual's risk for various hereditary conditions and to guide personalized treatment decisions. The company's core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women's health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.

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