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SALT LAKE CITY - Myriad Genetics, Inc. (NASDAQ: MYGN), a company specializing in molecular diagnostics and precision medicine with annual revenue of $837.6 million, has named Brian Donnelly as its new chief commercial officer (CCO), set to start on May 1, 2025. With over two decades of experience in healthcare and diagnostics, Donnelly brings a wealth of knowledge to the role, having previously held senior positions at Ancestry, Amazon, and Illumina. According to InvestingPro data, the company’s stock is currently trading near its 52-week low, suggesting potential opportunities for new leadership to drive value.
Sam Raha, the incoming president and CEO of Myriad Genetics, praised Donnelly’s strategic and operational expertise, emphasizing his commitment to patient-centric solutions and commercial execution. Raha expressed confidence that Donnelly will be instrumental in scaling Myriad’s business, boosting product adoption, and ensuring sustained profitable growth. This appointment comes at a crucial time, as InvestingPro analysis indicates the company is expected to return to profitability this year, despite current challenges.
Donnelly himself expressed enthusiasm about joining Myriad Genetics and contributing to the company’s mission of enhancing health outcomes through genetic insights. His track record includes managing substantial P&Ls and spearheading growth through innovative market strategies, aligning commercial initiatives with organizational goals, and enhancing brand positioning.
Myriad Genetics offers molecular tests that assess disease risk, guide treatment decisions, and aim to improve patient care while reducing healthcare costs. The company’s leadership expects Donnelly to play a pivotal role in its ongoing mission.
This announcement is based on a press release statement and contains forward-looking statements regarding Donnelly’s expected contributions to Myriad Genetics. These statements are subject to various risks and uncertainties that could cause actual results to differ materially. Myriad Genetics maintains that it is not obligated to update or alter any forward-looking statements unless required by law. For investors seeking deeper insights into Myriad Genetics’ financial health and growth prospects, InvestingPro offers comprehensive analysis, including 12 additional ProTips and detailed valuation metrics in its Pro Research Report, available as part of the subscription covering 1,400+ US stocks.
In other recent news, Myriad Genetics reported fourth-quarter revenues of $211 million, aligning with its preannouncement range but falling short of the Street’s expectation of $213 million. Despite this, the company exceeded some financial metrics, with adjusted gross margins of 72.0% and adjusted EBITDA of $11 million, surpassing forecasts. The company confirmed its 2025 guidance, expecting revenues between $840-860 million, which is below the previous forecast. Analyst firms have adjusted their price targets and ratings for Myriad Genetics. Scotiabank reduced its price target to $20 while maintaining an Outperform rating, citing expected growth in certain business segments. Morgan Stanley lowered its target to $16, keeping an Equalweight rating, due to softer volumes and ongoing challenges. Piper Sandler upgraded the stock to Overweight with a new target of $12.50, viewing the recent stock value decline as a potential opportunity. JPMorgan and Jefferies both lowered their targets to $12 and $11, respectively, maintaining Underweight and Underperform ratings, with concerns about future performance and strategic uncertainties.
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