Myriad Genetics (MYGN) Stock Forecast & Price Target

Myriad Genetics is viewed positively because its 1Q revenue of $200.4M grew 2% year over year and volumes were broadly in line, while GeneSight revenue rose more than 20% and HCT volumes were up 14%, showing underlying demand in key growth drivers. Management reiterated FY’26 guidance for $860M-$880M of revenue, implying about 6% growth at the midpoint, plus 68%-69% adjusted gross margin and $37M-$49M adjusted EBITDA, supported by a more focused and expanded sales force and new launches like Precise MRD, Prolaris with PATHOMiQ, and FirstGene. The company’s positive case also rests on improving pricing, expanding provider adoption, and accelerating 2H’26 trends that could help the business move closer to profitability.

Myriad Genetics is facing a deteriorating operating profile marked by share loss in Reproductive Health, persistent Prenatal weakness, and Hereditary Cancer price compression that is pressuring gross margin. In 2Q26, revenue fell low double digits, Prenatal revenue declined 16% y/y to about $40 million, total test volume was flat at 385K, and margins compressed 460 bps y/y while the company cut guidance by $90 million at the midpoint. Although strategic assets may have value inside a larger platform, the sub-1x revenue multiple appears to reflect deteriorating commercial quality, with ongoing payer friction, lower revenue per test, and no clear EBITDA improvement.