Piper Sandler upgrades Myriad to 'overweight' on CEO change

Myriad Genetics

12/03/2025 11:42

** Brokerage Piper Sandler upgrades medical test kit maker Myriad Genetics MYGN.O to "overweight" from "neutral"; ups PT by $1 to $12.50

** Says stock has "more than rebased" after a 50% decline in the last six months

** Says new CEO, Sam Raha, is expected to "reset the business"

** Last month, MYGN said CEO Paul Diaz is stepping down

** Brokerage believes co's stock has found a bottom around the "1x revenue range", as they think the company's "biggest remaining potential downside is expectations set by a previous CEO"

** Co has a "solid core franchise in esoteric testing" with high-margin products that can grow in the high single digits - brokerage

** MYGN fell 27.8% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))