Myriad Genetics (NASDAQ:MYGN – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.000-0.050 for the period, compared to the consensus estimate of 0.020. The company issued revenue guidance of $820.0 million-$840.0 million, compared to the consensus revenue estimate of $826.6 million.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Leerink Partnrs upgraded shares of Myriad Genetics from a market perform rating to an outperform rating in a research note on Wednesday. SVB Leerink raised Myriad Genetics from a market perform rating to an outperform rating and lifted their target price for the company from $25.00 to $35.00 in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on Myriad Genetics from $28.00 to $31.00 and gave the company a buy rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of Hold and a consensus target price of $24.86.
Read Our Latest Stock Analysis on Myriad Genetics
Myriad Genetics Stock Performance
Myriad Genetics (NASDAQ:MYGN – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $193.51 million. During the same period last year, the firm posted ($0.28) earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Myriad Genetics will post -0.36 EPS for the current fiscal 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.
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