Myriad Genetics (NASDAQ:MYGN) Releases FY24 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.00 to $0.05 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their target price on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a buy rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $23.17.

Myriad Genetics Price Performance

Shares of MYGN stock traded down $0.19 during trading hours on Tuesday, reaching $19.78. The stock had a trading volume of 884,097 shares, compared to its average volume of 642,611. The stock’s fifty day simple moving average is $20.67 and its 200 day simple moving average is $19.85. The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.79 billion, a PE ratio of -6.18 and a beta of 1.96. Myriad Genetics has a 12 month low of $13.82 and a 12 month high of $24.21.

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

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.