Myriad Genetics (MYGN)
NASDAQ:MYGN
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Myriad Genetics
(NASDAQ:MYGN)
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Rating:48Neutral
Price Target:
$4.50
▼(-10.00% Downside)
Action:ReiteratedDate:02/26/26
The score is held back primarily by weak fundamentals (persistent losses, 2025 profitability deterioration, and uneven cash generation) and bearish technicals (price below key moving averages with negative MACD). These are partly offset by a constructive earnings-call outlook with reaffirmed 2026 guidance and improving product volume trends, while valuation is mixed due to a loss-driven negative P/E and no dividend support.
Positive Factors
High, stable gross margins
Consistent ~69–71% gross margins indicate durable unit economics in Myriad's testing business. Strong gross margins provide structural support for eventual operating leverage, enabling the company to fund commercialization and R&D from test-level profitability even before full corporate breakeven is achieved.
Negative Factors
Persistent net losses and 2025 margin deterioration
Ongoing annual net losses and the sharp 2025 deterioration reflect weak operating leverage and elevated operating expenses versus revenue. Continued losses can erode equity, force more external financing, and constrain strategic optionality if structural profitability improvements are not realized.
Read all positive and negative factors
Positive Factors
Negative Factors
High, stable gross margins
Consistent ~69–71% gross margins indicate durable unit economics in Myriad's testing business. Strong gross margins provide structural support for eventual operating leverage, enabling the company to fund commercialization and R&D from test-level profitability even before full corporate breakeven is achieved.
Read all positive factors
Myriad Genetics (MYGN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$485.31M
Dividend YieldN/A
Average Volume (3M)2.03M
Price to Earnings (P/E)―
Beta (1Y)1.56
Revenue Growth0.21%
EPS Growth-233.51%
CountryUS
Employees2,700
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)0.04
Shares Outstanding93,508,160
10 Day Avg. Volume952,666
30 Day Avg. Volume2,027,071
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.56
Price to Sales (P/S)0.70
P/FCF Ratio318.77
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue0.65
Enterprise Value/Gross Profit0.93
Enterprise Value/Ebitda-1.34
Forecast
1Y Price Target
$6.30Price Target Upside26.00% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)0.04
Revenue Forecast (FY)$863.78M
Myriad Genetics Business Overview & Revenue Model
Company Description
Myriad 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 ...
How the Company Makes Money
Myriad Genetics primarily makes money by providing clinical genetic and molecular diagnostic testing services and recognizing revenue when those tests are delivered and reimbursed. The core revenue stream is testing revenue generated from ordering...
Myriad Genetics Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how revenue is split across the company’s business lines—clinical genetic testing, women's health and oncology tests, and any partner or pharmaceutical-related income. Reveals which products drive growth, where pricing or reimbursement risk is concentrated, and whether Myriad is diversifying away from dependence on a single offering.
Shows how revenue is split across the company’s business lines—clinical genetic testing, women's health and oncology tests, and any partner or pharmaceutical-related income. Reveals which products drive growth, where pricing or reimbursement risk is concentrated, and whether Myriad is diversifying away from dependence on a single offering.
Data provided by:
The Fly
The FlyMyriad Genetics Earnings Call Summary
Earnings Call Date:Feb 23, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call conveyed clear operational momentum: revenue above guidance in Q4, accelerating volumes in key products (MyRisk, Prolaris, GeneSight), profitable Q4 results and strong cash generation, plus a robust product pipeline and reaffirmed 2026 guidance. Key challenges include a material UnitedHealthcare headwind for GeneSight, prenatal order-system disruption and near-term reimbursement uncertainty for MRD; management presented concrete mitigation actions, cautious commercialization plans for MRD, and targeted investments to accelerate growth. On balance, the positive operational and product-development progress and reaffirmed guidance outweigh the identifiable near-term headwinds.Positive Updates
Quarterly and Annual Revenue Above Expectations
Q4 2025 revenue of $209.8M (CEO rounded to $210M) came in above the high end of the preannounced range. Full year 2025 revenue was $824.5M.
Negative Updates
UnitedHealthcare GeneSight Coverage Headwind
UnitedHealthcare's coverage decision negatively impacted Q4 results with a reported net impact of $8.1M; average revenue per test declined ~2% year-over-year, and management cited this as a driver of margin pressure.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly and Annual Revenue Above Expectations
Q4 2025 revenue of $209.8M (CEO rounded to $210M) came in above the high end of the preannounced range. Full year 2025 revenue was $824.5M.
Read all positive updates
Company Guidance
Myriad reaffirmed full‑year 2026 guidance of $860–$880 million in revenue, adjusted gross margin of 68–69% and adjusted EBITDA of $37–$49 million, with Q1 revenue expected at $200–$203 million (up 2–4% YoY); management noted MRD tests will have little‑to‑no revenue contribution in 2026 and plans to invest over $35 million over the next few years to support launches. For context, Q4 2025 revenue was ~$210 million with 382,000 test results (consolidated volume +2% YoY, average revenue per test -2% YoY), adjusted gross margin 70%, adjusted EBITDA $14.3M, adjusted operating cash flow $17.9M and adjusted EPS $0.04; full‑year 2025 revenue was $824.5M with >1.5M test reports and >55,000 providers served. Operational highlights tied to the guidance include MyRisk Q4 volume growth of +14% (affected) and +11% (unaffected), Prolaris Q4 volume +12% (revenue +16%), GeneSight Q4 revenue $36.6M with volume +9% and >38,000 ordering clinicians, an expected modest enterprise ASP headwind (~1–2%), prenatal facing a Q1 headwind with recovery anticipated in Q2, and $225M of available capital.Myriad Genetics Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
52
Neutral
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 824.50M | 837.60M | 753.20M | 678.40M | 690.60M |
| Gross Profit | 576.60M | 585.40M | 517.00M | 476.40M | 493.00M |
| EBITDA | -397.40M | -59.50M | -197.40M | -84.70M | 12.30M |
| Net Income | -365.90M | -127.30M | -263.30M | -112.00M | -27.20M |
Balance Sheet | |||||
| Total Assets | 706.60M | 1.03B | 1.15B | 1.20B | 1.32B |
| Cash, Cash Equivalents and Short-Term Investments | 149.60M | 102.40M | 140.90M | 114.90M | 339.80M |
| Total Debt | 209.80M | 140.30M | 152.10M | 145.00M | 92.30M |
| Total Liabilities | 338.60M | 326.50M | 363.30M | 312.90M | 352.90M |
| Stockholders Equity | 368.00M | 701.10M | 783.20M | 885.80M | 967.80M |
Cash Flow | |||||
| Free Cash Flow | 1.80M | -38.40M | -184.20M | -151.60M | 600.00K |
| Operating Cash Flow | 1.80M | -8.70M | -110.90M | -106.30M | 18.60M |
| Investing Cash Flow | -27.40M | -11.90M | 31.90M | -77.50M | 274.40M |
| Financing Cash Flow | 64.20M | -7.40M | 152.90M | -8.00M | -150.60M |
Myriad Genetics Technical Analysis
Positive
5.00
Price Trends
4.75
Positive
5.66
Negative
6.07
Negative
Market Momentum
0.01
Negative
55.69
Neutral
79.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MYGN, the sentiment is Positive. The current price of 5 is above the 20-day moving average (MA) of 4.65, above the 50-day MA of 4.75, and below the 200-day MA of 6.07, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 55.69 is Neutral, neither overbought nor oversold. The STOCH value of 79.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MYGN.
Myriad Genetics Risk Analysis
Myriad Genetics disclosed 52 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 |
|---|---|---|---|---|---|---|---|
60 Neutral | $731.98M | -46.67 | -5.27% | ― | 10.15% | -295.52% | |
58 Neutral | $899.87M | -47.01 | -6.47% | ― | 14.46% | ― | |
52 Neutral | $1.13B | -2.79 | -12.64% | ― | 10.10% | -44.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $481.02M | ― | -5.40% | ― | 13.60% | 74.64% | |
49 Neutral | $693.71M | -8.74 | -39.13% | ― | -21.02% | 47.74% | |
48 Neutral | $485.31M | -1.57 | -79.81% | ― | 0.21% | -233.51% |
* Healthcare Sector Average
MYGN
Myriad Genetics
5.00
-2.40
-32.43%
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CSTL
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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.