FY2024 EPS Forecast for Myriad Genetics Increased by Analyst

Myriad Genetics, Inc. (NASDAQ:MYGN) – Equities researchers at Leerink Partnrs increased their FY2024 earnings estimates for shares of Myriad Genetics in a research note issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now anticipates that the company will earn ($0.28) per share for the year, up from their prior forecast 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.

Several other research analysts have also recently issued reports on MYGN. Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Piper Sandler dropped their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Stephens reissued an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Morgan Stanley dropped their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, UBS Group started coverage on Myriad Genetics in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.92.

Myriad Genetics Price Performance

MYGN opened at $12.76 on Thursday. 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 business’s fifty day simple moving average is $14.38 and its 200-day simple moving average is $21.55. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -9.82 and a beta of 1.89. Myriad Genetics has a 12-month low of $12.04 and a 12-month high of $29.30.

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

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently added to or reduced their stakes in MYGN. KBC Group NV increased its holdings in shares of Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after acquiring an additional 3,334 shares in the last quarter. Blue Trust Inc. increased its stake in Myriad Genetics by 14.1% during the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock valued at $198,000 after purchasing an additional 1,788 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Myriad Genetics by 84.9% in the fourth quarter. Inspire Investing LLC now owns 31,373 shares of the company’s stock worth $430,000 after buying an additional 14,406 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Myriad Genetics by 117.0% in the fourth quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock worth $4,548,000 after buying an additional 179,527 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Myriad Genetics by 8.8% during the third quarter. Franklin Resources Inc. now owns 58,055 shares of the company’s stock worth $1,457,000 after buying an additional 4,710 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

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.