Myriad Genetics (MYGN) Stock Forecast & Price Target

Myriad Genetics is supported by improving underlying growth drivers, including GeneSight revenue growth above 20%, HCT volume up in the mid-teens, and total 1Q revenue of $200.4M that was in line with the low end of 2Q guidance. Management also highlighted a focused and expanded sales force, over 100 added reps, and new launches such as Precise MRD, Prolaris with PATHOMiQ, and FirstGene, which should help accelerate trends in the back half of the year. With FY'26 revenue guidance of $860-880M, adj. gross margin of 68-69%, and adj. EBITDA of $37-49M, the outlook reflects credible progress toward better scale and profitability.

Myriad Genetics is facing a deteriorating operating profile driven by share loss in Reproductive Health, persistent Prenatal weakness, and price compression in Hereditary Cancer that is squeezing gross margins. In 2Q26, revenue fell in the low double digits, margins compressed 460 bps y/y, and the company cut guidance by $90M at the midpoint, while Prenatal revenue declined 16% y/y to about $40 million and total test volume was flat at 385K. Although GeneSight and HCT showed pockets of strength, the broader business remains exposed to payer friction, lower revenue per test, and rising competition, leaving limited evidence that EBITDA or investor sentiment will improve soon.