Raymond James lowered the firm’s price target on Myriad Genetics (MYGN) to $10 from $19 and keeps an Outperform rating on the shares. Myriad reported a “somewhat soft” top-line result in Q1, but cut its revenue guidance by 4% as new CEO Sam Raha takes the helm, the analyst tells investors in a research note. There was also a clear willingness to reassess the portfolio, with oncology deemed central to the franchise, implying portfolio rationalization, most likely of GeneSight, is on the table, the firm says.
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Read More on MYGN:
- Wells downgrades Myriad Genetics, sees ‘show-me story’ after miss
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- Myriad Genetics Reports Mixed Q1 2025 Results
- Myriad Genetics Faces Revenue Declines and Strategic Challenges: Hold Rating Maintained
- Myriad Genetics cuts FY25 adjusted EPS view to (2c)-2c from 7c-11c
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