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 Performance

Shares of MYGN opened at $12.39 on Friday. Myriad Genetics has a 52-week low of $12.17 and a 52-week high of $29.30. The stock’s 50-day simple moving average is $14.68 and its 200 day simple moving average is $21.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -9.53 and a beta of 1.89.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MYGN shares. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. UBS Group initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company. Bank of America decreased their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a report on Friday, December 13th. Stephens reissued an “equal weight” rating and set a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday. Finally, Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Myriad Genetics has a consensus rating of “Hold” and an average target price of $23.92.

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.