Genetic testing company Myriad Genetics (NASDAQ: MYGN) will be announcing earnings results this Tuesday after market hours. Here’s what investors should know.
Myriad Genetics missed analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $195.9 million, down 3.1% year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations.
Is Myriad Genetics a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Myriad Genetics’s revenue to decline 4.5% year on year to $202 million, a reversal from the 15.3% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Myriad Genetics has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Myriad Genetics’s peers in the therapeutics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Biogen delivered year-on-year revenue growth of 7.3%, beating analysts’ expectations by 13.7%, and Moderna reported a revenue decline of 41.1%, topping estimates by 10.7%. Biogen traded up 3.9% following the results.
Read our full analysis of Biogen’s results here and Moderna’s results here.
The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the therapeutics stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.3% on average over the last month. Myriad Genetics is down 25.3% during the same time and is heading into earnings with an average analyst price target of $7.35 (compared to the current share price of $3.95).
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