Myriad Genetics (NASDAQ:MYGN) Updates FY24 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.00 to $0.05 for the period, compared to the consensus EPS estimate of $0.03. The company issued revenue guidance of $820 million to $840 million, compared to the consensus revenue estimate of $826.22 million.

Analyst Ratings Changes

MYGN has been the subject of several recent analyst reports. Leerink Partnrs upgraded Myriad Genetics from a market perform rating to an outperform rating in a research report on Wednesday. SVB Leerink raised shares of Myriad Genetics from a market perform rating to an outperform rating and raised their target price for the company from $25.00 to $35.00 in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a buy rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Myriad Genetics currently has a consensus rating of Hold and an average price target of $24.86.

Myriad Genetics Trading Up 0.5 %

MYGN stock traded up $0.12 during trading on Friday, hitting $25.37. 410,122 shares of the company traded hands, compared to its average volume of 666,383. 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 company has a 50-day moving average of $20.73 and a 200-day moving average of $19.94. The firm has a market capitalization of $2.30 billion, a PE ratio of -7.89 and a beta of 1.96. Myriad Genetics has a 1 year low of $13.82 and a 1 year high of $25.95.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company had revenue of $202.20 million for the quarter, compared to analysts’ expectations of $193.51 million. During the same period last year, the firm earned ($0.28) earnings per share. Myriad Genetics’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts predict that Myriad Genetics will post -0.36 earnings per share for the current fiscal year.

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.