Myriad Genetics Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)

Myriad Genetics MYGN underwent analysis by 5 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.

The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.

In the assessment of 12-month price targets, analysts unveil insights for Myriad Genetics, presenting an average target of $25.8, a high estimate of $30.00, and a low estimate of $20.00. This current average has increased by 5.31% from the previous average price target of $24.50.

Decoding Analyst Ratings: A Detailed Look

The standing of Myriad Genetics among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Key Insights:

• Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Myriad Genetics. This information offers a snapshot of how analysts perceive the current state of the company.
• Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Myriad Genetics compared to the broader market.
• Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Myriad Genetics's stock. This comparison reveals trends in analysts' expectations over time.

Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Myriad Genetics's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.

Stay up to date on Myriad Genetics analyst ratings.

Delving into Myriad Genetics's Background

Myriad Genetics is a molecular diagnostics company that provides testing services designed to assess an individual's risk of developing a disease. The firm produces MyRisk, a 48-gene panel with the capability to identify the elevated risk of developing 11 types of cancer. Other diagnostic products include BRACAnalysis CDx, the FDA-approved companion diagnostic for PARP inhibitors; GeneSight, which helps improve responses to psychotropic drugs for patients suffering from depression; and Prequel, a noninvasive prenatal test. Precise Oncology Solutions, launched in 2022, combines Precise Tumor with companion diagnostic and prognostic tests such as MyChoice CDx, Prolaris, and EndoPredict. The firm offers biomarker discovery and companion diagnostic services to pharma and biotech companies.

Financial Milestones: Myriad Genetics's Journey

Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.

Revenue Growth: Myriad Genetics displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 15.26%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.

Net Margin: Myriad Genetics's net margin excels beyond industry benchmarks, reaching -17.35%. This signifies efficient cost management and strong financial health.

Return on Equity (ROE): Myriad Genetics's ROE stands out, surpassing industry averages. With an impressive ROE of -4.89%, the company demonstrates effective use of equity capital and strong financial performance.

Return on Assets (ROA): Myriad Genetics's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of -3.34%, the company showcases efficient use of assets and strong financial health.

Debt Management: Myriad Genetics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.19.

Understanding the Relevance of Analyst Ratings

Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.

Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.

Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.

This article was generated by Benzinga's automated content engine and reviewed by an editor.