We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MYGN Stock Might Gain From the New Recognition of RiskScore Study
Read MoreHide Full Article
Myriad Genetics, Inc.’s (MYGN - Free Report) MyRisk Hereditary Cancer Test with RiskScore study has been named as one of its top 10 significant advances in genomic medicine by the American Journal of Human Genetics. The study was selected by the Genomic Medicine Working Group at the National Human Genome Research Institute.
The all-in-one MyRisk with RiskScore test evaluates 48 genes associated with hereditary cancer risk to identify genetic changes associated with increased risk for 11 different cancers. According to the company, the latest development underscores the clinical significance of the validation research from the study and the predictive accuracy of RiskScore.
MYGN Stock’s Likely Trend Following the News
After the announcement yesterday, Myriad Genetic shares edged up 0.8% in the after-hours trading. With MyRisk expected to continue its strong growth from expanded guidelines and acceleration of EMR integrations, we expect the latest news to positively boost the market sentiment toward MYGN stock.
Myriad Genetics has a market capitalization of $1.21 billion. The Zacks Consensus Estimate projects the company’s 2024 earnings to increase by 144.4%. It delivered an average earnings beat of 247.73% in the trailing four quarters.
More on MYGN’s RiskScore Study
The study by Mabey et al., “Validation of a clinical breast cancer risk assessment tool combining a polygenic score for all ancestries with traditional risk factors,” presented a longitudinal clinical validation of MyRisk with RiskScore using data from more than 130,000 women referred for hereditary cancer genetic testing. RiskScore integrates a polygenic risk score (PRS) for all ancestries with the widely used Tyrer-Cuzick model. The study demonstrated that Myriad’s PRS is a more accurate predictor of breast cancer risk than Tyrer-Cuzick alone. RiskScore delivered two times the ability to predict breast cancer risk than the Tyrer-Cuzick model.
Image Source: Zacks Investment Research
Myriad Genetics was one of the first commercial laboratories to market with a multi-ancestry breast cancer PRS, driven by its mission to advance health equity and deliver more inclusive genetic insights. Expressing gratitude for the recognition, the Chief Scientific Officer at MYGN stated that the selection of their paper as a major advance will continue to drive the adoption of RiskScore by providers and guideline societies.
Industry Prospects Favoring MYGN
Per a research report, the global hereditary cancer testing market was valued at $3.5 billion in 2021 and is expected to grow at a compound annual rate of 11.6% through 2031. The increasing geriatric population, a surge in the incidence of cancer worldwide and an increase in the government expenditure on healthcare are some of the main factors fueling the market’s growth.
Other Developments in Myriad Genetics
Earlier this month, the company announced that its Prolaris prostate cancer prognostic test continues to be classified by the National Comprehensive Cancer Network (“NCCN”) as an ‘Advanced Tool’ in the fight against prostate cancer. For many years, Prolaris has been included in NCCN guidelines with a category 2A level of evidence, which indicates that inclusion has support from at least 85% of members on the NCCN prostate panel.
MYGN Stock Price Performance
In the past month, MYGN shares have declined 12.9% compared with the industry’s fall of 3.3%.
MYGN’s Zacks Rank and Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold).
Penumbra shares have dropped 5.8% in the past year. Estimates for the company’s 2024 earnings per share have increased 2 cents to $2.81 in the past 30 days. PEN’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 10.54%. In the last reported quarter, it posted an earnings surprise of 23.19%.
Estimates for Haemonetics’ fiscal 2025 earnings per share have remained constant at $4.59 in the past 30 days. Shares of the company have dropped 10.1% in the past year against the industry’s growth of 9.8%. HAE’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 2.82%. In the last reported quarter, it delivered an earnings surprise of 2.75%.
Estimates for Phibro Animal Health’s fiscal 2025 earnings per share have increased 1.9% to $1.62 in the past 30 days. Shares of the company have surged 91.5% in the past year compared with the industry’s 9.8% rise. PAHC’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 25.47%. In the last reported quarter, it delivered an earnings surprise of 52.17%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
MYGN Stock Might Gain From the New Recognition of RiskScore Study
Myriad Genetics, Inc.’s (MYGN - Free Report) MyRisk Hereditary Cancer Test with RiskScore study has been named as one of its top 10 significant advances in genomic medicine by the American Journal of Human Genetics. The study was selected by the Genomic Medicine Working Group at the National Human Genome Research Institute.
The all-in-one MyRisk with RiskScore test evaluates 48 genes associated with hereditary cancer risk to identify genetic changes associated with increased risk for 11 different cancers. According to the company, the latest development underscores the clinical significance of the validation research from the study and the predictive accuracy of RiskScore.
MYGN Stock’s Likely Trend Following the News
After the announcement yesterday, Myriad Genetic shares edged up 0.8% in the after-hours trading. With MyRisk expected to continue its strong growth from expanded guidelines and acceleration of EMR integrations, we expect the latest news to positively boost the market sentiment toward MYGN stock.
Myriad Genetics has a market capitalization of $1.21 billion. The Zacks Consensus Estimate projects the company’s 2024 earnings to increase by 144.4%. It delivered an average earnings beat of 247.73% in the trailing four quarters.
More on MYGN’s RiskScore Study
The study by Mabey et al., “Validation of a clinical breast cancer risk assessment tool combining a polygenic score for all ancestries with traditional risk factors,” presented a longitudinal clinical validation of MyRisk with RiskScore using data from more than 130,000 women referred for hereditary cancer genetic testing. RiskScore integrates a polygenic risk score (PRS) for all ancestries with the widely used Tyrer-Cuzick model. The study demonstrated that Myriad’s PRS is a more accurate predictor of breast cancer risk than Tyrer-Cuzick alone. RiskScore delivered two times the ability to predict breast cancer risk than the Tyrer-Cuzick model.
Image Source: Zacks Investment Research
Myriad Genetics was one of the first commercial laboratories to market with a multi-ancestry breast cancer PRS, driven by its mission to advance health equity and deliver more inclusive genetic insights. Expressing gratitude for the recognition, the Chief Scientific Officer at MYGN stated that the selection of their paper as a major advance will continue to drive the adoption of RiskScore by providers and guideline societies.
Industry Prospects Favoring MYGN
Per a research report, the global hereditary cancer testing market was valued at $3.5 billion in 2021 and is expected to grow at a compound annual rate of 11.6% through 2031. The increasing geriatric population, a surge in the incidence of cancer worldwide and an increase in the government expenditure on healthcare are some of the main factors fueling the market’s growth.
Other Developments in Myriad Genetics
Earlier this month, the company announced that its Prolaris prostate cancer prognostic test continues to be classified by the National Comprehensive Cancer Network (“NCCN”) as an ‘Advanced Tool’ in the fight against prostate cancer. For many years, Prolaris has been included in NCCN guidelines with a category 2A level of evidence, which indicates that inclusion has support from at least 85% of members on the NCCN prostate panel.
MYGN Stock Price Performance
In the past month, MYGN shares have declined 12.9% compared with the industry’s fall of 3.3%.
MYGN’s Zacks Rank and Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Penumbra (PEN - Free Report) , Haemonetics (HAE - Free Report) and Phibro Animal Health (PAHC - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Penumbra shares have dropped 5.8% in the past year. Estimates for the company’s 2024 earnings per share have increased 2 cents to $2.81 in the past 30 days. PEN’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 10.54%. In the last reported quarter, it posted an earnings surprise of 23.19%.
Estimates for Haemonetics’ fiscal 2025 earnings per share have remained constant at $4.59 in the past 30 days. Shares of the company have dropped 10.1% in the past year against the industry’s growth of 9.8%. HAE’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 2.82%. In the last reported quarter, it delivered an earnings surprise of 2.75%.
Estimates for Phibro Animal Health’s fiscal 2025 earnings per share have increased 1.9% to $1.62 in the past 30 days. Shares of the company have surged 91.5% in the past year compared with the industry’s 9.8% rise. PAHC’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 25.47%. In the last reported quarter, it delivered an earnings surprise of 52.17%.