Stock Track | Myriad Genetics Soars on Impressive Q3 Results, Upbeat Outlook

Stock Track11-08

Shares of Myriad Genetics (NASDAQ: MYGN) surged over 6% in early trading on Thursday, propelled by the company's robust third-quarter earnings report and optimistic commentary on its growth prospects.

The molecular diagnostics firm reported an 11% year-over-year increase in revenues to $213.3 million, fueled by volume and pricing improvements across its product portfolio. A standout performer was the company's GeneSight test, which helps guide psychiatric treatment selection, with revenues jumping 34% compared to the prior-year period.

Myriad Genetics also delivered adjusted earnings of $0.06 per share, surpassing analysts' expectations of $0.02 per share. The company's strong financial performance, coupled with its positive momentum across key products like Precise Tumor and the newly launched Foresight Universal Plus test, buoyed investor sentiment.

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