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What To Expect From Myriad Genetics’s (MYGN) Q3 Earnings

MYGN Cover Image

Genetic testing company Myriad Genetics (NASDAQ: MYGN) will be reporting results this Monday after the bell. Here’s what to expect.

Myriad Genetics beat analysts’ revenue expectations by 5.5% last quarter, reporting revenues of $213.1 million, flat year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

Is Myriad Genetics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Myriad Genetics’s revenue to decline 4% year on year to $204.8 million, a reversal from the 11.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.

Myriad Genetics Total Revenue

Analysts covering the company have generally 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 twice over the last two years.

Looking at Myriad Genetics’s peers in the therapeutics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Gilead Sciences delivered year-on-year revenue growth of 3%, beating analysts’ expectations by 3.7%, and Biogen reported revenues up 2.8%, topping estimates by 8.2%. Gilead Sciences traded up 1.2% following the results while Biogen was also up 4.1%.

Read our full analysis of Gilead Sciences’s results here and Biogen’s results here.

Investors in the therapeutics segment have had steady hands going into earnings, with share prices flat over the last month. Myriad Genetics’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $7.95 (compared to the current share price of $8.09).

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