Myriad Genetics (MYGN) Stock Forecast & Price Target

Myriad Genetics Inc. demonstrates a positive growth trajectory, especially in its Pharmacogenomics segment, which increased by 14% year-over-year in 2024, with specific products like GeneSight achieving 23% growth. The company's prenatal testing services reported a solid 12% growth rate in the fourth quarter of 2024 and a remarkable 17% increase for the entire fiscal year, indicating strong demand and the potential for further expansion. Additionally, Myriad Genetics anticipates a new hereditary cancer screening test launch in the second half of 2025 and believes that innovations in their core offerings can sustain growth above traditional market levels amid ongoing market consolidation.

Myriad Genetics has experienced significant setbacks, including the loss of reimbursement from a private payer for GeneSight and unfavorable changes in NCCN guidelines, leading to anticipated declines in near-term revenues. Moreover, the company's inadequate relationships with payors, who are its primary customers, could further hinder its operational performance, especially as competition intensifies and technology evolves in the molecular diagnostics field. The impact of these factors is reflected in a more than 50% decline in the company’s stock price over the past six months, raising concerns about meeting projections set by prior leadership amid ongoing challenges in the affected population growth and a slowdown in the unaffected population business.