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Myriad Genetics , Inc. (NASDAQ:MYGN) stock has reached a 52-week low, touching down at $9.36, as the company faces a tumultuous period marked by investor concerns and market pressures. With a market capitalization of $856 million and a healthy gross profit margin of nearly 70%, the company presents a mixed picture. According to InvestingPro analysis, the stock appears slightly undervalued at current levels. This latest price level reflects a significant downturn from previous valuations, with the stock experiencing a stark decline from its 52-week high of $29.30. The descent to this 52-week low underscores the array of challenges that Myriad Genetics has encountered, including competitive headwinds and shifting dynamics within the biotech and personalized medicine sectors. Despite current challenges, analyst targets range from $11 to $29, suggesting potential upside, and InvestingPro has identified 8 additional key investment tips for this stock, available in their comprehensive Pro Research Report covering 1,400+ top US equities.
In other recent news, Myriad Genetics reported its fourth-quarter 2024 earnings, revealing a revenue of $211 million, which was slightly below the anticipated $213 million. The company’s earnings per share (EPS) matched analysts’ expectations at $0.03. Despite the revenue miss, Myriad Genetics showed a 7% year-over-year revenue growth and maintained a strong liquidity position with $158 million. Piper Sandler upgraded Myriad Genetics’ stock to Overweight, citing potential improvements under new CEO Sam Raha’s leadership, while setting a price target of $12.50. Conversely, Morgan Stanley (NYSE:MS), JPMorgan, and Jefferies lowered their price targets for Myriad Genetics, citing various challenges, including softer volumes and uncertainties related to electronic medical records integration.
Morgan Stanley reduced its price target to $16.00, maintaining an Equalweight rating, while JPMorgan set a new target of $12.00, keeping an Underweight rating. Jefferies adjusted its target to $11.00, continuing with an Underperform rating, reflecting concerns over the company’s strategic reassessment and CEO transition. The analysts pointed out headwinds from UnitedHealthcare, disruptions from EMR workflow changes, and challenges with key products like Prolaris and GeneSight. Despite these challenges, Myriad Genetics confirmed its 2025 guidance, expecting revenues between $840 million and $860 million, with adjusted EPS of $0.07 to $0.11. The company is also focusing on strategic partnerships and innovations to drive future growth.
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