Genetic testing company Myriad Genetics (NASDAQ: MYGN) will be reporting earnings this Tuesday after market close. Here’s what you need to know.
Myriad Genetics beat analysts’ revenue expectations last quarter, reporting revenues of $209.8 million, flat year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year EBITDA guidance topping analysts’ expectations.
Is Myriad Genetics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Myriad Genetics’s revenue to grow 3.3% year on year, a reversal from the 3.1% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Myriad Genetics has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Myriad Genetics’s peers in the therapeutics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Moderna delivered year-on-year revenue growth of 260%, beating analysts’ expectations by 55.8%, and Biogen reported revenues up 1.9%, topping estimates by 11.2%. Biogen traded up 3.2% following the results.
Read our full analysis of Moderna’s results here and Biogen’s results here.
There has been positive sentiment among investors in the therapeutics segment, with share prices up 6% on average over the last month. Myriad Genetics is down 3% during the same time and is heading into earnings with an average analyst price target of $7.42 (compared to the current share price of $4.53).
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