Myriad Genetics (NASDAQ:MYGN - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.000-0.050 for the period, compared to the consensus estimate of 0.020. The company issued revenue guidance of $820.0 million-$840.0 million, compared to the consensus revenue estimate of $826.6 million.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Myriad Genetics from $28.00 to $31.00 and gave the company a buy rating in a research report on Monday, January 29th. SVB Leerink raised shares of Myriad Genetics from a market perform rating to an outperform rating and lifted their price objective for the stock from $25.00 to $35.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $24.86.
Check Out Our Latest Report on MYGN
Myriad Genetics Stock Performance
Shares of MYGN stock traded up $4.17 on Wednesday, hitting $23.95. The company's stock had a trading volume of 2,587,950 shares, compared to its average volume of 664,472. Myriad Genetics has a fifty-two week low of $13.82 and a fifty-two week high of $24.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01. The stock's 50 day moving average is $20.64 and its 200-day moving average is $19.91. The company has a market capitalization of $2.17 billion, a PE ratio of -7.48 and a beta of 1.96.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $202.20 million for the quarter, compared to analysts' expectations of $193.51 million. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned ($0.28) earnings per share. Equities research analysts expect that Myriad Genetics will post -0.36 earnings per share for the current fiscal year.
About Myriad Genetics
(
Get Free Report)
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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