In a report released yesterday, Daniel Brennan from TD Cowen reiterated a Hold rating on Myriad Genetics, with a price target of $9.00.
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Daniel Brennan has given his Hold rating due to a combination of factors including Myriad Genetics’ recent financial performance and ongoing strategic initiatives. The company’s third-quarter results were largely in line with market expectations, with a slight revenue increase driven by strong performances in certain segments like GeneSight, although Prenatal showed some weakness. Despite these mixed results, the company maintained its guidance for fiscal year 2025, indicating a stable outlook.
However, the full impact of Myriad Genetics’ strategic review, which is expected to be completed by early 2026, remains to be seen. Brennan highlights the importance of this review in assessing the company’s long-term growth potential. While some positive trends have emerged, such as the subsiding of earlier headwinds, the analyst prefers to wait for more detailed information on the strategic initiatives before making a more decisive recommendation. Consequently, the price target has been slightly raised to $9, reflecting cautious optimism but justifying the Hold rating until further clarity is provided.
Brennan covers the Healthcare sector, focusing on stocks such as Bruker, Natera, and Guardant Health. According to TipRanks, Brennan has an average return of 21.9% and a 57.81% success rate on recommended stocks.
In another report released on October 23, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $8.50 price target.