Wells downgrades Myriad Genetics, sees ‘show-me story’ after miss

Wells Fargo analyst Brandon Couillard downgraded Myriad Genetics (MYGN) to Equal Weight from Overweight with a price target of $6, down from $22. The company reported a “noisy” Q1 miss and guidance cut, the analyst tells investors in a research note. The firm sees risk to the second half of the year outlook and lacks conviction in Myriad’s growth and margin story into 2026. It will take time for the company to show better execution and articulate a more credible strategy, the analyst tells investors in a research note. Wells is cautious as the revised guidance still implies volume growth inflects higher into the second half of 2025. It now sees Myriad Genetics as a “show-me story” that will require more consistent execution and clarity on its strategy before investors revisit the stock.