Myriad Genetics (NASDAQ:MYGN) Updates FY 2024 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY 2024 earnings guidance on Sunday morning. The company provided earnings per share guidance of 0.140-0.150 for the period, compared to the consensus earnings per share estimate of 0.130. The company issued revenue guidance of $836.0 million-$838.0 million, compared to the consensus revenue estimate of $840.2 million.

Myriad Genetics Stock Down 1.0 %

MYGN stock opened at $12.39 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics has a 12 month low of $12.17 and a 12 month high of $29.30. The company’s 50-day moving average price is $14.59 and its two-hundred day moving average price is $21.76.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MYGN shares. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Morgan Stanley reduced their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Piper Sandler reduced their price target 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. Finally, UBS Group began coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.92.

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.