Analyst Sees Backside For Myriad Genetics Inventory, Points Improve – Myriad Genetics (NASDAQ:MYGN)

Piper Sandler has upgraded Myriad Genetics MYGN, a molecular diagnostic testing and precision medication firm.

Analyst David Westenberg says Myriad Genetics’ administration crew set a very aggressive LRP. Since then, two occasions—the lack of a non-public payer’s reimbursement on Genesight and an NCCN guideline language change—have led to an over 50% decline within the inventory within the final six months.

Westenberg writes that Myriad Genetics dangers lacking this yr’s steerage and would possibly have to set 2026 expectations under the LRP.

“We predict Myriad’s largest remaining potential draw back is expectations set by a earlier CEO, and we imagine the inventory will discover a backside round this ~1x income vary,” Piper Sandler writes.

Additionally Learn: Myriad Genetics Faces Value Restructuring As UnitedHealthcare Ends GeneSight Protection, Appoints New CEO

BMO Capital writes Myriad Genetics has confronted challenges within the urology and prostate testing market, dropping some floor to Deciphera Prescribed drugs and Veracyte VCYT lately.

Nevertheless, the corporate has taken steps to face out, together with a brand new partnership with PATHOMIQ to combine AI with molecular testing. Myriad Genetics plans to launch a check for sufferers after radical prostatectomy and radiation remedy later this yr or early subsequent yr. This check will likely be provided alongside Prolaris as a mixed choice.

Piper Sandler writes that the inventory has stabilized, permitting new CEO Sam Raha to reshape the enterprise, set clear methods and align expectations. The analyst has upgraded the inventory from Impartial to Chubby, with a worth goal of $12.50, up from $11.50.

Worth Motion: MYGN inventory is up 2.44% at $10.50 on the final test Wednesday.

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