Peeling Back The Layers: Exploring Myriad Genetics Through Analyst Insights

Across the recent three months, 5 analysts have shared their insights on Myriad Genetics MYGN, expressing a variety of opinions spanning from bullish to bearish.

The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.

Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $22.2, along with a high estimate of $31.00 and a low estimate of $14.00. A decline of 1.33% from the prior average price target is evident in the current average.

Interpreting Analyst Ratings: A Closer Look

An in-depth analysis of recent analyst actions unveils how financial experts perceive Myriad Genetics. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Key Insights:

• Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Myriad Genetics. This information provides a snapshot of how analysts perceive the current state of the company.
• Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Myriad Genetics compared to the broader market.
• Price Targets: Gaining insights, analysts provide 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.

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Get to Know Myriad Genetics Better

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.

A Deep Dive into Myriad Genetics's Financials

Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.

Revenue Growth: Over the 3 months period, Myriad Genetics showcased positive performance, achieving a revenue growth rate of 22.7% as of 30 September, 2023. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.

Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -31.94%, the company showcases strong profitability and effective cost control.

Return on Equity (ROE): Myriad Genetics's ROE stands out, surpassing industry averages. With an impressive ROE of -8.64%, the company demonstrates effective use of equity capital and strong financial performance.

Return on Assets (ROA): Myriad Genetics's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -5.25% ROA, the company effectively utilizes its assets for optimal returns.

Debt Management: Myriad Genetics's debt-to-equity ratio stands notably higher than the industry average, reaching 0.29. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.

The Core of Analyst Ratings: What Every Investor Should Know

Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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