Analyst Daniel Brennan from TD Cowen maintained a Hold rating on Myriad Genetics (MYGN – Research Report) and decreased the price target to $16.00 from $17.00.
Daniel Brennan’s rating is based on several factors, including the recent financial performance and future guidance of Myriad Genetics. The company’s fourth-quarter results were in line with expectations, but the guidance for 2025 was below the long-term growth target set by management. Despite this, there is confidence that volume growth will pick up in 2025, supported by new product launches, which could drive a double-digit revenue increase in the long term.
Additionally, the transition in leadership, with COO Sam Raha taking over as CEO, adds an element of uncertainty. The stock’s performance has been impacted by the UNH GeneSight announcement, and there is a need to evaluate the sustainability of growth in key areas like HCT and GeneSight. Consequently, the price target was adjusted downwards to reflect lower expected revenues in 2026, leading to the Hold rating as the firm continues to assess these dynamics.
Questions or Comments about the article? Write to editor@tipranks.com