Is Now the Time to Buy Myriad Genetics Amid Intensifying Competition and Mixed Analyst Sentiment?

The genetic diagnostics market in 2025 is a battleground of innovation and disruption, with Myriad Genetics (MYGN) navigating a landscape marked by rapid technological advancements, shifting payer dynamics, and fierce competition. For investors, the question of whether to buy MYGN hinges on a nuanced assessment of its strategic value amid these headwinds. While analyst sentiment remains mixed-reflected in a "Hold" consensus rating and a wide range of price targets-the company's focus on oncology, partnerships, and R&D could position it for long-term growth, even as near-term challenges persist.

Mixed Analyst Sentiment: A Cautionary Outlook

Analyst ratings for Myriad Genetics in 2025 underscore a cautious stance. Of the 14 analysts covering the stock, nine have issued "Hold" ratings, four "Buy," and one "Sell," with an average 12-month price target of $12.45, ranging from $6.00 to $21.00. UBS analyst Lu Li recently raised its price target from $6 to $8, citing improved operational execution, but maintained a "Neutral" rating, signaling limited near-term upside. Conversely, Scotiabank slashed its price target from $20 to $6, anticipating only a 3.36% upside from current levels. These divergent views highlight uncertainty about Myriad's ability to offset revenue declines in pharmacogenomics and maintain market share in a sector dominated by faster-growing peers.

Competitive Pressures and Market Share Challenges

Myriad's third-quarter 2025 results revealed a 4% year-over-year revenue decline to $205.7 million, driven by the discontinuation of UnitedHealthcare coverage for its GeneSight pharmacogenomics test and the divestiture of its European EndoPredict business. While hereditary cancer testing revenue and volume grew by 3% and 11%, respectively, these gains were outpaced by competitors. For instance, Myriad's 0.61% year-over-year revenue increase in Q2 2025 pales in comparison to the 14.31% average growth of its rivals. Key competitors like Invitae, Natera, and Exact Sciences are leveraging broader test menus, competitive pricing, and advanced sequencing technologies to capture market share.

The global genetic testing services market, however, is projected to grow from $21.42 billion in 2025 to $32.77 billion by 2029, driven by demand for non-invasive prenatal testing, pharmacogenomics, and personalized medicine. Myriad's strategic focus on the Cancer Care Continuum (CCC)-including therapy selection, immuno-oncology monitoring, and Molecular Residual Disease (MRD) detection-positions it to benefit from this growth, particularly as it plans to launch its proprietary MRD test in mid-2026.

Strategic Initiatives and R&D: A Path to Long-Term Value

Myriad's 2025 strategic initiatives emphasize disciplined R&D investments and partnerships to strengthen its oncology portfolio. The company has collaborated with SOPHiA GENETICS to develop liquid biopsy companion diagnostic (CDx) solutions and AI-enabled prostate cancer diagnostics. Additionally, Myriad secured a $200 million credit facility in July 2025 to fund its expansion into high-growth areas like MRD and therapy selection. These moves align with industry trends, such as the adoption of next-generation sequencing (NGS) and AI-driven analytics, which are reshaping diagnostic capabilities and enabling faster, more personalized insights.

However, Myriad's trailing 12-month revenue of approximately $800 million places it fourth among its top ten competitors, whose average revenue exceeds $2 billion. While the company's gross margin of 69.9% remains robust, its GAAP net loss in Q2 2025-partly due to a $316.7 million non-cash impairment charge-underscores financial risks.

Industry Trends and Competitive Positioning

The genetic diagnostics sector is being transformed by innovations such as rapid genomic diagnostics (e.g., whole genome sequencing) and multi-omics approaches, which are enhancing predictive capabilities and expanding applications in rare diseases and oncology. Myriad's partnerships with Flatiron Health and Ultima Genomics aim to improve patient access and sequencing efficiency, but it faces stiff competition from startups and established players investing heavily in automation and sustainability.

Despite these challenges, Myriad's international expansion into markets like Germany, France, and Japan-where demand for companion diagnostics is rising-could offset domestic headwinds. Its focus on the Cancer Care Continuum also aligns with the projected $32.77 billion market size by 2029, suggesting long-term potential if it can execute its strategic priorities effectively.

Conclusion: A Calculated Investment Decision

For investors, the decision to buy Myriad Genetics hinges on balancing near-term risks with long-term opportunities. The mixed analyst sentiment and revenue declines in pharmacogenomics highlight current vulnerabilities, but the company's strategic focus on oncology, MRD, and partnerships could drive growth in a $32.77 billion market by 2029. While competitors like Invitae and Natera are outpacing Myriad in revenue growth, its strong gross margin, disciplined cost management, and innovative pipeline-particularly in MRD-offer a compelling case for resilience.

However, the wide range of analyst price targets ($6–$21) reflects significant uncertainty. Investors willing to tolerate short-term volatility may find value in Myriad's long-term positioning, but those seeking immediate upside might prefer its faster-growing peers. Ultimately, the answer to "Is now the time to buy?" depends on one's risk tolerance and confidence in Myriad's ability to navigate a rapidly evolving industry.