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

Myriad Genetics (NASDAQ:MYGN) issued its quarterly earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09, FiscalAI reports. Myriad Genetics had a negative return on equity of 16.09% and a negative net margin of 13.96%. The company had revenue of $202.70 million during the quarter, compared to analysts’ expectations of $191.33 million.

Here are the key takeaways from Myriad Genetics’ conference call:

• Myriad agreed to sell its prenatal health business to Labcorp for $210 million in cash plus inventory. The company says the planned divestiture will sharpen its focus on cancer care, strengthen its balance sheet, and improve its financial profile.
• Third-quarter revenue was $202.7 million, and the company raised its 2026 revenue guidance midpoint to $785 million. Adjusted EBITDA loss improved sequentially to $5.3 million, while gross margin increased 130 basis points from Q2 to 67.9%.
• Hereditary cancer testing reimbursement remains pressured, primarily by more zero-pay claims and denials rather than lower contracted rates. Although HCT revenue per test improved 9% sequentially, it was still down 6% year over year, and management expects an average 1%–5% annual headwind over the medium to long term.
• Cancer Care Continuum test volume grew 4% year over year, including 6% growth in hereditary cancer testing, while GeneSight volume rose 3%. Management also cited encouraging interim Precise MRD data in colorectal cancer, though broader study results are still maturing and reimbursement is expected to begin in 2027.
• Prenatal health revenue fell 12% year over year as testing volume declined 11%, and management expects some additional volume softness ahead of the sale. The company also reported a third-quarter adjusted EBITDA loss and an adjusted EPS loss of $0.11.

Myriad Genetics Stock Down 0.3%

NASDAQ:MYGN traded down $0.02 during midday trading on Wednesday, reaching $6.02. The company had a trading volume of 2,103,877 shares, compared to its average volume of 1,893,970. The stock’s fifty day simple moving average is $4.33 and its 200-day simple moving average is $4.62. The company has a current ratio of 2.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. Myriad Genetics has a 12-month low of $2.74 and a 12-month high of $8.09. The firm has a market capitalization of $575.81 million, a price-to-earnings ratio of -5.06 and a beta of 1.62.

Wall Street Analysts Forecast Growth

Several analysts have commented on MYGN shares. Craig Hallum lifted their price objective on shares of Myriad Genetics from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Wall Street Zen cut shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings cut Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 27th. UBS Group initiated coverage on Myriad Genetics in a research note on Wednesday, September 9th. They set a “neutral” rating and a $3.60 price objective on the stock. Finally, Wells Fargo & Company set a $4.50 price target on shares of Myriad Genetics in a research report on Tuesday, October 20th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.77.

About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests and related services to help healthcare providers assess disease risk, guide treatment decisions and support patient care. The company’s testing portfolio spans hereditary cancer, precision oncology, women’s health, mental health and other clinical applications.

Its products include hereditary cancer risk tests such as MyRisk and BRACAnalysis, which evaluate inherited genetic variants associated with cancers including breast and ovarian cancer.