|Bid||22.30 x 1800|
|Ask||22.48 x 3200|
|Day's Range||22.32 - 23.36|
|52 Week Range||22.07 - 50.44|
|Beta (3Y Monthly)||1.40|
|PE Ratio (TTM)||374.83|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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Myriad Genetics stock crashed Wednesday after the genetic-testing outlet unveiled new reimbursement challenges, dampening its 2020 outlook. Shares wiped out their gains after a breakout.
The genetic testing company reported fiscal 2019 operating results and told investors that regulators want changes to an important product.
Shares of molecular-diagnostics firm Myriad Genetics Inc. plummeted 39% Wednesday morning after the company reported lower-than-expected fourth-quarter earnings and disclosed that the U.S. Food and Drug Administration had requested changes to one of its tests. On Tuesday afternoon, Myriad reported a fourth-quarter loss of $4.2 million, or 6 cents a share, after reporting earnings of $14.5 million, or 20 cents a share, in the year-earlier quarter. Adjusted EPS for the latest quarter was 41 cents a share, below the FactSet consensus of 47 cents a share. Revenue fell 11% to $215.4 million, missing the FactSet consensus of $221.6 million and the company's previous fourth-quarter guidance of $220 million. "Unfortunately, revenue in the fourth quarter was two percent below expectations largely due to lower reimbursement for our expanded carrier screening test," said Myriad CEO Mark Capone in a statement. Myriad said in its 10-K that the FDA had requested changes to its GeneSight test. The company said it has submitted a proposal they believe addresses the FDA's principal concerns. The GeneSight test is meant to analyze how a patient's genes may affect their response to depression drugs. UnitedHealth said in August that it would cover the test for members, sending Myriad's stock soaring. Shares of Myriad have now fallen 7.2% so far this year, while the S&P 500 has gained 14.9%.
Shares of the molecular-diagnostic biotech firm were down 30.4% after the company reported financial results that missed expectations and it said the FDA had “requested changes” to GeneSight.
Myriad (MYGN) delivered earnings and revenue surprises of -12.77% and -2.81%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Myriad Genetics stock plunged late Tuesday after the genetic testing outfit lagged Wall Street's quarterly forecasts and issued light guidance for 2020. The stock recently broke out.
Myriad Genetics (NASDAQ: MYGN ) announces its next round of earnings this Tuesday, August 13. Here's Benzinga's look at Myriad Genetics's Q4 earnings report. Earnings and Revenue Based on Myriad Genetics ...
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Yakima, WA, based Investment company Tieton Capital Management, LLC (Current Portfolio) buys Myriad Genetics Inc, sells Atlas Financial Holdings Inc, Helix Energy Solutions Group Inc, Stabilis Energy Inc during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Tieton Capital Management, LLC. Continue reading...
CFO of Myriad Genetics Inc (30-Year Financial, Insider Trades) Richard Bryan Riggsbee (insider trades) sold 25,000 shares of MYGN on 08/01/2019 at an average price of $41.5 a share. Continue reading...
Myriad Genetics stock launched to a 10-month high Thursday after UnitedHealth Group decided to provide insurance coverage for its genetic testing kit, GeneSight, in depression and anxiety.