Myriad Genetics (NASDAQ:MYGN) Issues Earnings Results

Myriad Genetics (NASDAQ:MYGN) released its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22), FiscalAI reports. The business had revenue of $190.70 million for the quarter, compared to analyst estimates of $206.03 million. Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share.

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

• Q2 revenue fell 11% year over year to $190.7 million, as a 1% volume decline and a 9% decrease in revenue per test offset growth in hereditary cancer and mental health testing. The company also recorded an approximately $11 million revenue headwind, including a $4 million aged-receivables write-off.
• Myriad lowered 2026 revenue guidance to $770 million–$790 million and gross-margin guidance to 66%–67%, citing weaker prenatal volumes and reimbursement pressure in hereditary cancer testing. Management suspended adjusted EBITDA guidance because the timing and impact of its restructuring and efficiency initiatives remain uncertain.
• The Cancer Care Continuum showed solid underlying demand, with hereditary cancer volume up 8% and MyRisk volume up 10% year over year; mental-health testing volume also increased 4%. Myriad said it is addressing payer friction through improved prior-authorization, documentation, denial-management, and AI-enabled revenue-cycle workflows.
• Myriad advanced several growth initiatives, including the launch of Prolaris+ AI, expanded availability of Precise MRD for breast, colorectal, and renal cancers, and the commercial launch of FirstGene prenatal screening. The company remains on track for a broader Precise MRD commercial launch in 2027 and has hired and deployed more than 100 new account executives to support future growth.
• The company launched the Ascend initiative and a broader portfolio review to simplify operations, improve scalability, and focus capital on higher-value opportunities, with management expecting meaningful benefits in 2027 and beyond. Myriad ended the quarter with approximately $190 million of available liquidity but reported a $16.9 million adjusted EBITDA loss.

Myriad Genetics Stock Performance

Shares of NASDAQ MYGN traded down $2.51 during mid-day trading on Friday, reaching $2.86. 10,107,221 shares of the company were exchanged, compared to its average volume of 1,623,930. The company’s 50-day simple moving average is $5.11 and its 200-day simple moving average is $4.95. The company has a quick ratio of 2.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $269.75 million, a P/E ratio of -0.67 and a beta of 1.64. Myriad Genetics has a twelve month low of $2.82 and a twelve month high of $8.59.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Cowen cut their target price on Myriad Genetics from $6.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday. Weiss Ratings raised Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company cut their price target on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

Key Stories Impacting Myriad Genetics

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

• Positive Sentiment: Management is implementing initiatives aimed at improving efficiency, productivity and scalability. Myriad is also engaging payers and pursuing revenue-cycle improvements intended to make reimbursement more predictable and strengthen future performance. Myriad Genetics Reports Second Quarter 2026 Financial Results
• Neutral Sentiment: TD Cowen maintained a Hold rating but lowered its price target to $4 from a higher prior target, citing the quarterly miss and reduced guidance. The rating suggests limited near-term conviction while the company works through its operating challenges. Myriad Genetics Q2 Miss, Guidance Cut Lead to Lower Price Target
• Negative Sentiment: Second-quarter revenue fell approximately 11% year over year to $190.7 million, below the $206.0 million analyst consensus. Volume decreased 1%, while average revenue per test dropped 9%, pointing to continued pressure on pricing and reimbursement. Myriad Genetics Reports Q2 Loss and Misses Revenue Estimates
• Negative Sentiment: Myriad posted an adjusted loss of $0.25 per share, substantially worse than the expected $0.03 loss and down from earnings of $0.05 per share a year earlier. The quarter included an operating loss and a negative net margin, reinforcing concerns about profitability. Myriad Genetics Stock Drops Sharply After Hours
• Negative Sentiment: Full-year 2026 revenue guidance was reduced to $770 million–$790 million, well below the approximately $862.7 million consensus estimate. The lower outlook signals that the revenue and reimbursement pressures may persist beyond the current quarter. Myriad Genetics Quarterly Earnings Report

Insider Activity at Myriad Genetics

In other news, Director Paul Bisaro purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $3.69 per share, with a total value of $27,675.00. Following the acquisition, the director owned 97,441 shares in the company, valued at approximately $359,557.29. This trade represents a 8.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rashmi Kumar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $4.46, for a total transaction of $66,900.00. Following the transaction, the director directly owned 171,889 shares in the company, valued at $766,624.94. This represents a 8.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MYGN. Quarry LP lifted its holdings in shares of Myriad Genetics by 155.6% during the fourth quarter. Quarry LP now owns 4,365 shares of the company’s stock worth $27,000 after purchasing an additional 2,657 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Myriad Genetics by 2,333.3% in the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after acquiring an additional 4,480 shares during the period. Royal Bank of Canada lifted its stake in shares of Myriad Genetics by 129.6% in the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock worth $31,000 after acquiring an additional 2,818 shares during the period. Raymond James Financial Inc. bought a new stake in Myriad Genetics in the second quarter valued at approximately $37,000. Finally, American Century Companies Inc. bought a new stake in Myriad Genetics in the second quarter valued at approximately $55,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.