Myriad Genetics (NASDAQ:MYGN) Issues FY24 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.00 to $0.05 for the period, compared to the consensus earnings per share 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 upped their price target on Myriad Genetics from $28.00 to $31.00 and gave the stock a buy rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $23.17.

Myriad Genetics Stock Down 1.0 %

Myriad Genetics stock traded down $0.19 during mid-day trading on Tuesday, reaching $19.78. 883,993 shares of the company were exchanged, compared to its average volume of 642,611. The firm’s 50-day simple moving average is $20.67 and its two-hundred day simple moving average is $19.85. Myriad Genetics has a twelve month low of $13.82 and a twelve month high of $24.21. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS 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 company had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $193.51 million. During the same quarter last year, the business earned ($0.28) EPS. The business’s revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Myriad Genetics will post -0.36 earnings per share 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.