Myriad Genetics (MYGN) Stock Forecast & Price Target

Myriad Genetics is supported by improving operating momentum, with 1Q revenue of $200.4M growing 2% year over year and total volume flat, while GeneSight revenue rose more than 20% and the ordering physician base exceeded 39K. The company’s FY’26 guidance for $860M-$880M of revenue implies about 6% growth at the midpoint, alongside 68%-69% adjusted gross margin and $37M-$49M of adjusted EBITDA, suggesting a clearer path toward profitability than skeptics expect. Confidence is further reinforced by a focused and expanded sales force, stronger HCT trends, and upcoming launches such as Precise MRD, Prolaris with PATHOMiQ, and FirstGene, which could accelerate growth in 2H’26.

Myriad Genetics is viewed negatively because its turnaround thesis has weakened as prenatal weakness has persisted, with 1Q26 and 2Q26 failing to show the expected recovery and prenatal revenue falling 16% year over year to about $40 million amid ongoing volume challenges. The company’s total revenue of $200.4 million grew only 2% year over year and came in at the low end of guidance, while total test volume was flat at 385K and adj. EBITDA turned to a $4.5 million loss as commercial investment rose. At the same time, share loss in Reproductive Health, price compression in Hereditary Cancer, and sub-1x revenue valuation suggest deteriorating operating quality, making further estimate cuts and margin pressure likely.