Myriad Genetics (MYGN) Stock Forecast & Price Target

Myriad Genetics Inc. has demonstrated strong growth in key segments, notably pharmacogenomics, which saw a 14% year-over-year increase in 2024, with the GeneSight product achieving a 23% rise. The firm's prenatal testing solutions, including Prequel and Foresight, also showcased a robust 12% year-over-year growth in the fourth quarter of 2024 and a 17% increase in fiscal year 2024, indicating significant demand in this market. Furthermore, the anticipated launch of an expanded hereditary cancer screening test in the second half of 2025, combined with ongoing opportunities in a consolidating hereditary testing market, positions Myriad Genetics for sustained growth beyond traditional laboratory rates.

Myriad Genetics has experienced setbacks due to the loss of reimbursement from a private payer for its GeneSight product and unfavorable changes in NCCN guidelines, which have adversely impacted near-term revenue forecasts. The company's inability to effectively engage with payors, its primary customers, poses significant risks to its operational performance, compounded by ongoing competitive pressures and the need for advancements in its product pipeline. Over the past six months, Myriad's stock has declined more than 50%, reflecting broader concerns around price erosion, slower volume growth, and the challenges of meeting expectations set by prior leadership amidst an increasingly consolidating market.