Myriad Genetics (NASDAQ:MYGN) Releases Earnings Results, Beats Estimates By $0.09 EPS

Myriad Genetics (NASDAQ:MYGN) announced its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09, Briefing.com reports. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. The business had revenue of $202.20 million for the quarter, compared to analyst estimates of $193.51 million. During the same period in the prior year, the firm posted ($0.28) EPS. The company’s revenue was up 11.6% on a year-over-year basis. Myriad Genetics updated its FY24 guidance to $0.00 to $0.05 EPS.

Myriad Genetics Stock Down 1.0 %

MYGN opened at $19.78 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01. Myriad Genetics has a 1 year low of $13.82 and a 1 year high of $24.21. The firm has a 50 day moving average price of $20.59 and a 200 day moving average price of $19.88. The company has a market cap of $1.79 billion, a PE ratio of -6.18 and a beta of 1.96.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted their price target 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 assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Myriad Genetics currently has an average rating of “Hold” and an average price target of $23.17.

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.