Myriad Genetics (NASDAQ:MYGN) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Myriad Genetics (NASDAQ:MYGN) posted its earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09, FiscalAI reports. Myriad Genetics had a negative net margin of 16.07% and a negative return on equity of 18.88%. The firm had revenue of $202.70 million for the quarter, compared to the consensus estimate of $191.33 million.

Here are the key takeaways from Myriad Genetics’ conference call:

• Myriad agreed to sell its prenatal health business to Labcorp for $210 million in cash plus inventory. The company says the planned divestiture will sharpen its focus on cancer care, strengthen its balance sheet, and improve its financial profile.
• Third-quarter revenue was $202.7 million, and the company raised its 2026 revenue guidance midpoint to $785 million. Adjusted EBITDA loss improved sequentially to $5.3 million, while gross margin increased 130 basis points from Q2 to 67.9%.
• Hereditary cancer testing reimbursement remains pressured, primarily by more zero-pay claims and denials rather than lower contracted rates. Although HCT revenue per test improved 9% sequentially, it was still down 6% year over year, and management expects an average 1%–5% annual headwind over the medium to long term.
• Cancer Care Continuum test volume grew 4% year over year, including 6% growth in hereditary cancer testing, while GeneSight volume rose 3%. Management also cited encouraging interim Precise MRD data in colorectal cancer, though broader study results are still maturing and reimbursement is expected to begin in 2027.
• Prenatal health revenue fell 12% year over year as testing volume declined 11%, and management expects some additional volume softness ahead of the sale. The company also reported a third-quarter adjusted EBITDA loss and an adjusted EPS loss of $0.11.

Myriad Genetics Trading Up 4.5%

NASDAQ MYGN opened at $6.29 on Friday. The firm’s fifty day moving average is $4.45 and its two-hundred day moving average is $4.62. Myriad Genetics has a one year low of $2.74 and a one year high of $8.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.21. The firm has a market cap of $601.64 million, a PE ratio of -4.62 and a beta of 1.62.

Analyst Ratings Changes

MYGN has been the topic of several research reports. Wall Street Zen lowered Myriad Genetics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Stephens dropped their price target on Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Piper Sandler upgraded Myriad Genetics from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Tuesday, October 20th. Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 15th. Finally, TD Cowen boosted their price objective on Myriad Genetics from $4.50 to $6.75 and gave the company a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.55.

Trending Headlines about Myriad Genetics

Here are the key news stories impacting Myriad Genetics this week:

• Positive Sentiment: Raised revenue outlook: Myriad raised the midpoint of its 2026 revenue guidance after what it described as solid execution. It also outlined revenue of $780 million to $790 million following a definitive agreement to sell its Prenatal Health business for $210 million; proceeds are intended to support strategic growth initiatives. Company earnings release
• Positive Sentiment: Q3 results beat expectations: Revenue was $202.7 million, above analyst estimates of $191.3 million, while the loss of $0.11 per share was narrower than the expected $0.20 loss. Revenue increased 6% sequentially, though it declined 1% year over year; the company remained unprofitable. Q3 results report
• Neutral Sentiment: Analysts lifted price targets but kept neutral ratings: TD Cowen raised its target from $4.50 to $6.75 with a Hold rating, and Leerink Partners raised its target from $5 to $8 with a Market Perform rating. The higher targets reflect improved expectations, but the ratings signal neither firm is recommending an outright Buy. TD Cowen rating Leerink Partners rating
• Negative Sentiment: Cybersecurity incident: Myriad said it detected unauthorized access to its information technology systems on November 2 and is investigating whether data was accessed. Potential data exposure or disruption could create financial, regulatory, and reputational risks. Cybersecurity incident report

Myriad Genetics Company Profile

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests and related services to help healthcare providers assess disease risk, guide treatment decisions and support patient care. The company’s testing portfolio spans hereditary cancer, precision oncology, women’s health, mental health and other clinical applications.

Its products include hereditary cancer risk tests such as MyRisk and BRACAnalysis, which evaluate inherited genetic variants associated with cancers including breast and ovarian cancer.