Myriad Genetics (MYGN) Stock Forecast & Price Target

Myriad Genetics Inc. demonstrates a robust growth trajectory, highlighted by a 14% year-over-year increase in pharmacogenomics revenue for 2024, with the GeneSight test experiencing a notable 23% growth. The prenatal testing segment, encompassing the Prequel and Foresight tests, further contributes to the positive outlook, recording a combined 12% growth rate in the fourth quarter of 2024 and 17% for the full fiscal year. With anticipated expansions in hereditary cancer screening and expected benefits from regulatory updates, Myriad is well-positioned for sustained growth, particularly in underserved markets with low penetration rates.

The financial outlook for Myriad Genetics Inc is negatively affected by multiple factors, including a loss of reimbursement from a private payer for GeneSight and a change in NCCN guideline language, which are projected to dampen near-term revenue. Additionally, the company's inability to develop and maintain relationships with payors, coupled with increased competition in vital testing areas, poses significant risks to its future operating performance. Despite a notable drop of over 50% in stock value over the last six months, ongoing challenges such as price erosion and longer-than-expected EMR workflow conversions further undermine the company's financial stability and growth prospects.