Myriad Genetics (NASDAQ:MYGN) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Myriad Genetics (NASDAQ:MYGN) released its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.09, FiscalAI reports. The business had revenue of $202.70 million for the quarter, compared to analysts’ expectations of $191.33 million. Myriad Genetics had a negative net margin of 13.96% and a negative return on equity of 16.09%.

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

• Myriad agreed to sell its prenatal health business to Labcorp for $210 million in cash plus inventory. The company says the planned divestiture will sharpen its focus on cancer care, strengthen its balance sheet, and improve its financial profile.
• Third-quarter revenue was $202.7 million, and the company raised its 2026 revenue guidance midpoint to $785 million. Adjusted EBITDA loss improved sequentially to $5.3 million, while gross margin increased 130 basis points from Q2 to 67.9%.
• Hereditary cancer testing reimbursement remains pressured, primarily by more zero-pay claims and denials rather than lower contracted rates. Although HCT revenue per test improved 9% sequentially, it was still down 6% year over year, and management expects an average 1%–5% annual headwind over the medium to long term.
• Cancer Care Continuum test volume grew 4% year over year, including 6% growth in hereditary cancer testing, while GeneSight volume rose 3%. Management also cited encouraging interim Precise MRD data in colorectal cancer, though broader study results are still maturing and reimbursement is expected to begin in 2027.
• Prenatal health revenue fell 12% year over year as testing volume declined 11%, and management expects some additional volume softness ahead of the sale. The company also reported a third-quarter adjusted EBITDA loss and an adjusted EPS loss of $0.11.

Myriad Genetics Trading Down 0.3%

Shares of NASDAQ MYGN opened at $6.02 on Thursday. The firm’s 50 day moving average price is $4.38 and its 200-day moving average price is $4.62. Myriad Genetics has a 52-week low of $2.74 and a 52-week high of $8.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.21. The company has a market cap of $575.81 million, a PE ratio of -5.06 and a beta of 1.62.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MYGN shares. TD Cowen increased their target price on Myriad Genetics from $4.00 to $4.50 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Weiss Ratings downgraded Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 27th. Wells Fargo & Company set a $4.50 price objective on Myriad Genetics in a research report on Tuesday, October 20th. Piper Sandler upgraded shares of Myriad Genetics from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Tuesday, October 20th. Finally, Wall Street Zen downgraded shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.77.

About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests and related services to help healthcare providers assess disease risk, guide treatment decisions and support patient care. The company’s testing portfolio spans hereditary cancer, precision oncology, women’s health, mental health and other clinical applications.

Its products include hereditary cancer risk tests such as MyRisk and BRACAnalysis, which evaluate inherited genetic variants associated with cancers including breast and ovarian cancer.