MYGN Stock Recent News

Strategic progress and solid potential in oncology testing keep MYGN on investors' radar.

Medical equipment stock Myriad Genetics Inc (NASDAQ:MYGN) was last seen up 9.8% at $11.25, after an upgrade from Piper Sandler to "overweight" from "neutral," with a price-target hike to $12.50 from $11.50.

On Monday, in its earnings release, Myriad Genetics Inc. MYGN said Unitedhealth Group Inc's UNH UnitedHealthcare will stop covering multi-gene panel pharmacogenetic testing, including Myriad Genetics' GeneSight test, for its commercial, individual exchange, and certain managed Medicaid plans. This change takes effect in the first half of 2025.

Myriad Genetics achieves strong revenue growth in the fourth quarter of 2024.

Myriad Genetics, Inc. (NASDAQ:MYGN ) Q4 2024 Results Conference Call February 24, 2025 4:30 PM ET Company Participants Matt Scalo - Senior Vice President of Investor Relations Paul Diaz - President and Chief Executive Officer Sam Raha - Chief Operating Officer Mark Verratti - Chief Commercial Officer Scott Leffler - Chief Financial Officer Conference Call Participants Madeline Mollman - Wolfe Research Will Ortmayer - Goldman Sachs Madison Pasterchick - Morgan Stanley Tycho Peterson - Jefferies Sung Ji Nam - Scotia Bank Bill Bonello - Craig-Hallum Puneet Souda - Leerink Partners Ben Mee - Stephens Operator Good day, and thank you for standing by. Welcome to the Myriad Genetics Fourth Quarter 2024 Financial Earnings Conference Call.

The headline numbers for Myriad (MYGN) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Myriad Genetics (MYGN) came out with quarterly earnings of $0.03 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.04 per share a year ago.

Highlights Fourth quarter 2024 revenue of $211 million, grew 7% year-over-year driven by continued demand for Pharmacogenomics (14%) and Prenatal (12%) testing. Fourth quarter GAAP gross margin of 71.7%, increased 300 basis points year-over-year, benefiting from improving revenue per test trends and greater laboratory efficiencies.

SALT LAKE CITY, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, and PATHOMIQ, Inc., a developer of artificial intelligence (AI)-enabled prognostic and predictive tests for advancing access to personalized medicine and empowering treatment decisions, announced that they have entered into a strategic collaboration for Myriad to exclusively license PATHOMIQ_PRAD, PATHOMIQ's AI technology platform for prostate cancer, in the United States. Machine learning and AI-enabled diagnostics are transforming the way clinicians approach cancer patient care.

SALT LAKE CITY, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc . (NASDAQ: MYGN), a leader in genetic and genomic tumor testing and precision medicine, has been named on the Forbes list of America's Best Employers 2025.