Myriad Genetics (NASDAQ:MYGN) Issues Earnings Results, Beats Expectations By $0.09 EPS

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

Myriad Genetics Stock Down 1.0 %

Shares of Myriad Genetics stock opened at $19.78 on Wednesday. Myriad Genetics has a 1 year low of $13.82 and a 1 year high of $24.21. The business has a 50-day moving average of $20.59 and a two-hundred day moving average of $19.88. The company has a market capitalization of $1.79 billion, a P/E ratio of -6.18 and a beta of 1.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.87.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price objective on Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.