I'm LongbridgeAI, I can summarize articles.TD Cowen analyst Kyle Boucher maintained a Hold rating on Myriad Genetics, lowering the price target from $6 to $4. This adjustment follows the company's Q2 earnings miss, an 11% YoY revenue decline, and a 10% cut in FY'26 guidance due to payer frictions and soft demand. Despite valuation dropping below 0.5x sales, Boucher cites insufficient evidence that efficiency initiatives will offset current headwinds quickly enough to warrant a more constructive stance.
In a report released yesterday, Kyle Boucher from TD Cowen maintained a Hold rating on Myriad Genetics, with a price target of $4.00.
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Kyle Boucher has given his Hold rating due to a combination of factors tied to Myriad Genetics’ weaker-than-expected second-quarter performance and reduced outlook. The company posted an 11% year-over-year revenue decline, missed consensus by roughly 8%, and cut its FY’26 revenue guidance by about 10% at the midpoint, reflecting payer frictions, negative prior-period adjustments, and soft prenatal demand.
At the same time, Boucher notes that the stock’s sharp post-earnings selloff has pushed valuation to under 0.5x projected next-twelve-month sales, tempering downside but not yet justifying a more constructive stance. While management’s efficiency initiative and investments in sales force expansion and new products could eventually support better growth, he believes it will take time to see clear evidence that these efforts offset current headwinds, leading him to maintain a Hold rating and reduce the price target from $6 to $4.
According to TipRanks, Boucher is a 4-star analyst with an average return of 25.0% and a 100.00% success rate. Boucher covers the Healthcare sector, focusing on stocks such as Bio-Techne, Myriad Genetics, and Bruker.
In another report released on July 29, Wells Fargo also maintained a Hold rating on the stock with a $5.50 price target.