Leerink Partnrs Expects Higher Earnings for Myriad Genetics

Myriad Genetics, Inc. (NASDAQ:MYGN) – Stock analysts at Leerink Partnrs raised their FY2024 EPS estimates for shares of Myriad Genetics in a report issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings per share of ($0.28) for the year, up from their previous estimate of ($0.30). Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for Myriad Genetics’ current full-year earnings is ($0.28) per share. Leerink Partnrs also issued estimates for Myriad Genetics’ Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.23) EPS.

A number of other research analysts have also issued reports on the stock. Piper Sandler reduced their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Bank of America decreased their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. UBS Group started coverage on Myriad Genetics in a research note on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price target on the stock. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $21.00 in a research report on Monday, December 9th. Finally, Morgan Stanley reduced their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $23.92.

Myriad Genetics Stock Up 0.5 %

Shares of NASDAQ:MYGN opened at $12.82 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.17 billion, a P/E ratio of -9.86 and a beta of 1.89. Myriad Genetics has a 52-week low of $12.04 and a 52-week high of $29.30. The stock’s fifty day simple moving average is $14.34 and its 200-day simple moving average is $21.46.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $213.30 million for the quarter, compared to analyst estimates of $209.82 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the prior year, the firm earned ($0.17) earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Jennison Associates LLC increased its position in shares of Myriad Genetics by 144.2% in the fourth quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock worth $809,000 after acquiring an additional 34,853 shares in the last quarter. KBC Group NV raised its position in Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares during the period. Blue Trust Inc. lifted its stake in shares of Myriad Genetics by 14.1% during the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock worth $198,000 after purchasing an additional 1,788 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Myriad Genetics by 84.9% during the 4th quarter. Inspire Investing LLC now owns 31,373 shares of the company’s stock valued at $430,000 after buying an additional 14,406 shares during the period. Finally, Nordea Investment Management AB lifted its position in Myriad Genetics by 117.0% during the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock worth $4,548,000 after acquiring an additional 179,527 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

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.