Myriad Genetics, Inc. MYGN recently announced an agreement with Hannah Storm, a nationally renowned sports broadcaster who recently revealed her battle with breast cancer. Under the agreement, Storm will act as an ambassador for the Myriad Genetics Breast Cancer Risk Assessment Program, which features the MyRisk with RiskScore Hereditary Cancer test.
The latest collaboration with Storm will bolster the company’s Hereditary Cancer testing business.
MYGN Stock’s Likely Trend Following the News
Myriad Genetic’s shares edged up 0.5% in the after-hours trading yesterday.
The company has been gaining synergies from its MyRisk Hereditary Cancer Test. In December 2024, the American Journal of Human Genetics named the MyRisk Hereditary Cancer Test with RiskScore study as one of the top 10 significant advances in genomic medicine.
Moreover, MyRisk is expected to continue its strong growth from expanded guidelines and acceleration of EMR integrations. Accordingly, we expect the latest collaboration with Hannah Storm to boost the market sentiment toward MYGN stock.
Myriad Genetics has a market capitalization of $1.21 billion. The company's 2024 earnings are expected to increase 144.4% from the 2023 figure. MYGN delivered an average earnings surprise of 247.73% in the trailing four quarters.
More on MYGN’s Collaboration With Hannah Storm
Hannah Storm is a longtime SportsCenter and NBC sports anchor. In January 2024, she was diagnosed with stage zero ductal carcinoma in situ (DCIS). A routine mammogram detected something suspicious, prompting an ultrasound, which led to a biopsy that revealed DCIS. Since then, she has been raising awareness about the importance of knowing one’s family health history.
Under the agreement, she will promote the importance of collecting a detailed family health history for cancer and understanding the associated cancer risks on her social media platforms. She plans to share several posts about how to have conversations with your family about hereditary cancers, the importance of knowing both sides of your family health history and what questions to ask.
Per Myriad Genetics, collaborating with someone like Storm will encourage more women to engage in conversations about their family’s health history and consider preventive steps in consultation with their healthcare providers.
About MYGN’s MyRisk Hereditary Cancer Test With RiskScore
MyRisk with RiskScore evaluates 48 genes associated with hereditary cancer risk to identify genetic changes associated with increased cancer risk for 11 different cancers. When combined with family history and other clinical factors such as breast density, MyRisk with RiskScore provides eligible patients with a five-year and remaining lifetime breast cancer risk assessment.
Image Source: Zacks Investment Research
Industry Prospects Favoring MYGN
Per a Allied Market 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 government expenditures 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 year, MYGN’s shares have lost 25.1% compared with the industry’s decline of 14.3%.
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 Veracyte VCYT, ResMed RMD and Omnicell OMCL.
Veracyte, carrying a Zacks Rank of #1 (Strong Buy) at present, has an estimated earnings growth rate of 65.8% for 2025. You can see the complete list of today’s Zacks #1 Rank stocks here.
VCYT’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 520.58%. Veracyte’s shares have risen 49.2% in the past year compared with the industry’s 5.5% growth.
ResMed, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 21.1% for 2025. RMD’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 6.41%. Its shares have risen 34.1% compared with the industry’s 7.7% growth in the past year.
Omnicell, carrying a Zacks Rank #2 at present, has an estimated earnings growth rate of 72.7% for fourth-quarter 2024. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 121.74%. OMCL’s shares have risen 26.4% against the industry’s 15.7% decline in the past year.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>Omnicell, Inc. (OMCL) : Free Stock Analysis Report
ResMed Inc. (RMD) : Free Stock Analysis Report
Myriad Genetics, Inc. (MYGN) : Free Stock Analysis Report
Veracyte, Inc. (VCYT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
