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Myriad Genetics (MYGN)
NASDAQ:MYGN
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Myriad Genetics
(NASDAQ:MYGN)
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Rating:41Neutral
Price Target:
$5.50
▼(-6.30% Downside)
Myriad Genetics faces significant financial challenges, with declining revenues and negative profitability being the most impactful factors. Technical analysis also indicates bearish trends, further weighing down the stock's prospects. While the earnings call highlighted some positive strategic initiatives, these are overshadowed by the current financial and operational difficulties.
Positive Factors
Product Expansion
Expanding the MyRisk test enhances Myriad's product offering, aligning with clinical guidelines and potentially increasing market adoption.
Strategic Partnerships
Partnerships and product launches can drive growth by expanding Myriad's market reach and improving its competitive position.
Operational Efficiency
High gross margins indicate effective cost management and a strong product mix, supporting long-term profitability.
Negative Factors
Revenue Decline
Revenue decline poses a challenge to growth, affecting the company's ability to invest in new initiatives and maintain market position.
Cash Flow Challenges
Cash flow issues limit financial flexibility, potentially hindering investment in growth opportunities and increasing reliance on external financing.
Leadership Changes
Frequent leadership changes can disrupt strategic continuity and affect investor confidence, impacting long-term stability.
Myriad Genetics (MYGN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$547.16M
Dividend YieldN/A
Average Volume (3M)871.22K
Price to Earnings (P/E)―
Beta (1Y)1.65
Revenue Growth0.21%
EPS Growth-233.51%
CountryUS
Employees2,700
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)0.00
Shares Outstanding93,213,720
10 Day Avg. Volume956,851
30 Day Avg. Volume871,216
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)1.77
Price to Sales (P/S)1.48
P/FCF Ratio-32.35
Enterprise Value/Market Cap1.12
Enterprise Value/Revenue0.74
Enterprise Value/Gross Profit1.06
Enterprise Value/Ebitda-1.69
Forecast
1Y Price Target
$7.10Price Target Upside20.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Myriad Genetics Business Overview & Revenue Model
Company DescriptionMyriad Genetics, Inc., a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, or metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer. The company also offers Prolaris Prostate Cancer Prognostic Test, a RNA expression tumor analysis for assessing the aggressiveness of prostate cancer; EndoPredict Breast Cancer Prognostic Test, a RNA expression test for assessing the aggressiveness of breast cancer; Precise Tumor, a solution for precision oncology; and Prequel Prenatal Screen, a non-invasive prenatal screening test conducted using maternal blood to screen for severe chromosomal disorders in a fetus. In addition, it provides Foresight Carrier Screen, a prenatal test for future parents to assess their risk of passing on a recessive genetic condition to their offspring; and GeneSight Psychotropic Mental Health Medication Test, a DNA genotyping test to aid psychotropic drug selection for patients suffering from depression, anxiety, ADHD, and other mental health conditions. Myriad Genetics, Inc. has a strategic collaboration with Illumina, Inc. and Intermountain Precision Genomics for an offering of germline and somatic tumor testing services. The company was founded in 1991 and is headquartered in Salt Lake City, Utah.
How the Company Makes MoneyMyriad Genetics generates revenue primarily through the sale of its genetic testing services, which are offered to healthcare providers and patients. The company operates on a fee-for-service model, whereby it bills insurance companies and patients for the tests performed. Key revenue streams include molecular diagnostic tests, which are often reimbursed by health insurance plans, and companion diagnostic tests that are developed in collaboration with pharmaceutical companies to inform treatment decisions for specific drugs. Significant partnerships with healthcare providers, academic institutions, and pharmaceutical companies enhance Myriad's market presence and contribute to its revenue growth. Additionally, the company invests in research and development to expand its test offerings and improve existing services, thereby increasing its revenue potential.
Myriad Genetics Earnings Call Summary
Earnings Call Date:Nov 03, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 03, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture. While there were strong operational efficiencies and promising strategic initiatives that promise future growth, these were counterbalanced by current revenue declines and challenges in certain segments, notably prenatal testing. The company is taking proactive steps to address these challenges and remains optimistic about future prospects.Q3-2025 Updates
Positive Updates
Strong Volume Growth in Key Segments
MyRisk in oncology saw a 16% volume growth year-over-year, and MyRisk for unaffected grew by 11%. GeneSight volume increased by 8%, showing acceleration from the first half of 2025.
High Adjusted Gross Margin
The company reported a strong adjusted gross margin of 70.1% in the third quarter, reflecting operational efficiency and strong test mix.
Strategic Partnerships and Product Launches
The company entered into a collaboration with SOPHiA GENETICS and is on track to launch the updated MyRisk test and a new Prolaris prostate cancer test in 2026. These initiatives are expected to accelerate growth.
Positive Adjusted EBITDA and Free Cash Flow
Reported an adjusted EBITDA of $10.3 million and adjusted free cash flow of $18.6 million, demonstrating the profitability and cash-generating potential of the business.
Reaffirmation of 2025 Financial Guidance
The company reaffirmed its full-year revenue guidance of $818 million to $828 million, with a gross margin range of 69.5% to 70% and adjusted EBITDA guidance of $27 million to $33 million.
Negative Updates
Revenue Decline
Total revenue for the third quarter was $205.7 million, a decline of 4% year-over-year, primarily due to a difficult comparison with the prior year and the impact of UnitedHealthcare's policy change on GeneSight coverage.
Average Revenue Per Test Decrease
Average revenue per test decreased by 7% year-over-year due to shifts in payer mix and the impact of UnitedHealthcare's policy change.
Challenges with Prenatal Testing
Volume growth for legacy prenatal products was flat year-over-year, indicating continued challenges in this segment despite some improvements from previous quarters.
Company Guidance
During the third quarter of 2025, Myriad Genetics reported revenue of $205.7 million, marking a 4% year-over-year decrease, although the underlying growth was 5% when adjusted for specific headwinds. The company achieved strong adjusted gross margins of 70.1% and an adjusted EBITDA of $10.3 million. Testing volumes grew 3%, with MyRisk oncology volumes increasing by 16% and GeneSight volumes by 8%. The company maintained a focus on profitability, with a disciplined approach to operating expenses, which decreased by $1 million year-over-year. Myriad Genetics reiterated its 2025 financial guidance, projecting annual revenue between $818 million and $828 million, and continued investments in its cancer care continuum strategy to drive future growth.Myriad Genetics Financial Statement Overview
Summary
Myriad Genetics is experiencing financial difficulties, with declining revenues, negative profitability, and increasing leverage. The company faces significant challenges in improving operational efficiency and cash flow generation. Addressing these issues is crucial to achieving financial stability and long-term growth.Income Statement
Myriad Genetics shows a declining revenue trend with a significant negative revenue growth rate of -91.2% in the TTM period. The company has consistently reported negative net profit margins, with the TTM net profit margin at -48.5%, indicating ongoing profitability challenges. Gross profit margins have remained relatively stable but are overshadowed by negative EBIT and EBITDA margins, reflecting operational inefficiencies.35
Negative
Balance Sheet
The company's debt-to-equity ratio has increased to 0.57 in the TTM period, indicating rising leverage. Return on equity is negative, reflecting ongoing losses. However, the equity ratio remains relatively stable, suggesting a reasonable proportion of equity financing. The increasing debt levels could pose a risk if not managed carefully.45
Neutral
Cash Flow
Myriad Genetics faces significant cash flow challenges, with negative operating and free cash flows in the TTM period. The free cash flow to net income ratio is unusually high due to negative net income, indicating cash flow issues. The company needs to improve its cash generation to support operations and reduce reliance on external financing.30
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 825.30M | 837.60M | 753.20M | 678.40M | 690.60M | 557.00M |
| Gross Profit | 580.70M | 585.40M | 517.00M | 476.40M | 493.00M | 378.80M |
| EBITDA | -362.60M | -59.50M | -197.40M | -84.70M | 12.30M | -123.40M |
| Net Income | -400.50M | -127.30M | -263.30M | -112.00M | -27.20M | -223.70M |
Balance Sheet | ||||||
| Total Assets | 728.10M | 1.03B | 1.15B | 1.20B | 1.32B | 1.42B |
| Cash, Cash Equivalents and Short-Term Investments | 145.40M | 102.40M | 140.90M | 114.90M | 339.80M | 150.70M |
| Total Debt | 212.30M | 140.30M | 152.10M | 145.00M | 92.30M | 289.00M |
| Total Liabilities | 355.30M | 326.50M | 363.30M | 312.90M | 352.90M | 537.80M |
| Stockholders Equity | 372.80M | 701.10M | 783.20M | 885.80M | 967.80M | 881.00M |
Cash Flow | ||||||
| Free Cash Flow | -26.10M | -38.40M | -184.20M | -151.60M | 600.00K | -40.10M |
| Operating Cash Flow | -2.20M | -8.70M | -110.90M | -106.30M | 18.60M | -26.90M |
| Investing Cash Flow | -27.30M | -11.90M | 31.90M | -77.50M | 274.40M | 61.60M |
| Financing Cash Flow | 74.50M | -7.40M | 152.90M | -8.00M | -150.60M | -1.00M |
Myriad Genetics Technical Analysis
Negative
5.87
Price Trends
6.70
Negative
7.11
Negative
6.30
Negative
Market Momentum
-0.25
Positive
37.77
Neutral
27.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MYGN, the sentiment is Negative. The current price of 5.87 is below the 20-day moving average (MA) of 6.23, below the 50-day MA of 6.70, and below the 200-day MA of 6.30, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 37.77 is Neutral, neither overbought nor oversold. The STOCH value of 27.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MYGN.
Myriad Genetics Risk Analysis
Myriad Genetics disclosed 50 risk factors in its most recent earnings report. Myriad Genetics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Myriad Genetics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.05B | 17.13 | 24.11% | ― | 14.46% | ― | |
62 Neutral | $1.23B | -93.85 | -2.69% | ― | 10.15% | -295.52% | |
55 Neutral | $1.66B | -14.43 | -12.99% | ― | 10.10% | -44.29% | |
53 Neutral | $859.98M | -19.85 | -3.80% | ― | 13.60% | 74.64% | |
53 Neutral | $903.14M | -11.61 | -43.69% | ― | -21.02% | 47.74% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
41 Neutral | $547.16M | -1.35 | -72.52% | ― | 0.21% | -233.51% |
* Healthcare Sector Average
MYGN
Myriad Genetics
5.87
-7.09
-54.71%
NEO
NeoGenomics
12.81
-2.23
-14.83%
CDNA
CareDx
20.42
-2.13
-9.45%
FLGT
Fulgent Genetics
27.82
10.41
59.79%
PSNL
Personalis
10.17
4.36
75.04%
CSTL
Castle Biosciences
42.24
15.59
58.50%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.