Myriad Genetics (NASDAQ:MYGN) Issues FY 2025 Earnings Guidance

Key Points

• Myriad Genetics has updated its FY 2025 earnings guidance, with EPS expected between -0.020 and 0.020, slightly lower than the consensus estimate of -0.010.
• The company projects revenue of $818.0 million to $828.0 million, surpassing analysts' consensus estimate of $810.4 million.
• Recent analyst ratings indicate a shift in sentiment, with some firms lowering their price targets significantly; the average consensus target price is now $14.38.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) updated its FY 2025 earnings guidance on Tuesday. The company provided EPS guidance of -0.020-0.020 for the period, compared to the consensus EPS estimate of -0.010. The company issued revenue guidance of $818.0 million-$828.0 million, compared to the consensus revenue estimate of $810.4 million.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MYGN. Piper Sandler dropped their price objective on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Raymond James Financial reiterated an "outperform" rating and issued a $10.00 price objective (down from $19.00) on shares of Myriad Genetics in a research note on Wednesday, May 7th. Wolfe Research lowered Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research note on Thursday, May 8th. Craig Hallum set a $18.00 price objective on Myriad Genetics and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, UBS Group dropped their price objective on Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.38.

Myriad Genetics Price Performance

NASDAQ MYGN traded down $0.11 during trading on Tuesday, reaching $3.87. 2,550,966 shares of the company traded hands, compared to its average volume of 1,638,323. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.71 and a current ratio of 1.90. The stock's 50 day moving average price is $4.89 and its two-hundred day moving average price is $7.81. The company has a market cap of $356.72 million, a price-to-earnings ratio of -3.46 and a beta of 1.89. Myriad Genetics has a 1-year low of $3.76 and a 1-year high of $29.30.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). Myriad Genetics had a negative net margin of 12.20% and a negative return on equity of 4.95%. As a group, analysts anticipate that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Myriad Genetics by 278.9% during the first quarter. AQR Capital Management LLC now owns 433,392 shares of the company's stock valued at $3,844,000 after purchasing an additional 319,007 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Myriad Genetics by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company's stock worth $2,654,000 after acquiring an additional 14,027 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Myriad Genetics by 1,076.9% in the 1st quarter. Jane Street Group LLC now owns 213,826 shares of the company's stock worth $1,897,000 after acquiring an additional 195,658 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Myriad Genetics by 82.4% in the 1st quarter. Royal Bank of Canada now owns 33,326 shares of the company's stock worth $296,000 after acquiring an additional 15,057 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of Myriad Genetics in the 1st quarter worth approximately $105,000. 99.02% of the stock is owned by institutional investors and hedge funds.

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.

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