In a year marked by significant volatility, Myriad Genetics , Inc. (NASDAQ:MYGN) stock has reached a new 52-week low, touching down at $13.86. According to InvestingPro data, the stock's RSI suggests oversold conditions, while the company maintains a moderate debt level with a debt-to-equity ratio of 0.2. This latest price point underscores a challenging period for the healthcare company, which has seen its stock value decline by 31.92% over the past year, with a particularly steep drop of 41.24% in the last six months. Investors have been closely monitoring Myriad Genetics as it navigates through a complex landscape of regulatory hurdles and competitive pressures, which have evidently weighed on the company's market performance. Get deeper insights into MYGN's financial health and 8 additional key ProTips with an InvestingPro subscription. The 52-week low serves as a critical indicator for stakeholders considering the company's future prospects and the potential for a rebound in value. Despite current challenges, analysts maintain optimism, with forecasts suggesting a return to profitability this year, though 6 analysts have recently revised their earnings expectations downward.
In other recent news, Myriad Genetics reported an 11% year-on-year revenue growth and a positive adjusted earnings per share in its third-quarter 2024 earnings call. The company has adjusted its 2024 revenue target to approximately $840 million. However, a policy change by UnitedHealth Group (NYSE:UNH) may cease coverage of Myriad Genetics' GeneSight testing from 2025, potentially leading to an approximately $40 million annualized revenue impact.
UBS has assigned a Neutral rating to Myriad Genetics' stock, noting an improvement in the company's growth profile but expressing concerns regarding GeneSight reimbursement. Leerink Partners has downgraded the company's stock to Market Perform and reduced its 2025 growth estimate to 2.5%, reflecting potential challenges such as Medicaid cuts and competitive pressures.
Scotiabank (TSX:BNS) also revised its price target for Myriad Genetics in light of these potential challenges. Despite these, Myriad Genetics remains committed to achieving approximately 12% revenue compound annual growth rate through 2026. The company is planning to launch the Precise MRD test for breast cancer in the first half of 2026 and has made significant investments in lab technologies.
Finally, Myriad Genetics has settled a series of shareholder derivative lawsuits without admitting any liability or wrongdoing. As part of the settlement, the company will implement specified corporate governance reforms and pay up to $950,000 in attorneys' fees and expenses.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.